Explainers

The excessive deficit procedure aims to ensure that all member states maintain low government debt or reduce high debt to sustainable levels.

The package proposes measures to better connect companies and investors, improve funding and investment opportunities for retail investors, and further integrate capital markets.

The euro is the official currency of 21 EU member states, which together make up the euro area. Over 350 million EU citizens use the euro every day. 

New technologies in banking and payments are changing the financial services industry. By boosting innovation, the EU is creating a competitive financial sector while establishing rules that ensure financial stability and consumer protection.

The European Semester is a framework for the coordination of economic, budgetary, employment and social policies within the European Union.

Member states must meet certain conditions known as 'convergence criteria' in order to adopt the euro. The Council decides whether a country can introduce the euro.

The economic and monetary union involves the coordination of member states’ economic and fiscal policies alongside a single monetary policy for member states that have introduced the euro. It contributes to economic stability and growth.

The euro is the second most important currency in the world. A strong international euro supports the EU’s strategic autonomy and benefits consumers and businesses.

Adopting the euro is more than just changing currency. It offers tangible and lasting benefits for citizens, businesses and overall economic stability.

The EU is working on a strategy to further increase consumer protection and trust in order to encourage investment in European capital markets.