Economic Policy Committee (EPC)
The Economic Policy Committee (EPC) was set up by Council decision 74/122/EEC of 18 February 1974.
The EPC is an advisory body to the Commission and the Council. It contributes to the Council's work of coordinating member states' economic policies. It:
- provides economic analyses and opinions on methodologies
- drafts policy recommendations on structural policies for the improvement of growth potential and employment in the EU
- helps the Council to formulate broad economic policy guidelines and contributes to the multilateral surveillance procedure
- provides support to the Economic and Financial Committee by:
- reviewing the short and medium-term macroeconomic developments in the member states and the EU
- provides analysis and opinions on the interaction between structural and macroeconomic policies and on wage developments
The EPC is also the forum for technical discussions between the European Central Bank (ECB), the Economic and Financial Committee, the Employment Committee, the Commission, and social partners.
The EPC comprises 2 delegates from each member state, the Commission, and the ECB. They are senior officials and come from authorities responsible for economic and structural policy.
The EPC meets also in a Eurogroup composition to support the work of the Eurogroup.
Every 2 years, the EPC elects a president and up to 3 vice-presidents from among its members.