Economic governance: Council adopts legal texts

The Council adopted a package of six legislative proposals aimed at strengthening

economic governance in the EU – and more specifically in the euro area – as part of the

EU’s response to the current turmoil on sovereign debt markets (PE-CONS 28/11, 29/11,

30/11, 31/11, 14615/11, 14616/11, 15996/1/11 REV 1 ADD 1, 15998/11 ADD 1 +

16001/11 ADD 1 + REV 2).

Adoption of the so-called “six-pack” of governance measures follows a political agreement at the Council’s meeting on 4 October on the basis of a compromise reached with the European Parliament. The texts were approved by the Parliament on 28 September.

The measures set out to ensure the degree of coordination necessary to avoid the

accumulation of excessive imbalances and to ensure sustainable public finances. This will

help enable the EU’s monetary union to function properly in the long term.

They consist of:

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