European Semester in 2019

This page contains a timeline of events and documents relating to the European Semester in 2019, in reverse chronological order.

The Council issued its 2019 recommendations and opinions to member states' on their economic, employment and fiscal policies, thereby concluding this year's European Semester exercise. The recommendations were before discussed by the European Council in June and approved by the EPSCO Council in July.

Despite global uncertainties and less favourable conditions, all member states' economies are projected to grow in 2020 and the level of unemployment is at a record low. In this context, the country specific recommendations focus on implementing effective structural reforms, boosting investment strategies and encouraging responsible fiscal policies.

• Economic, employment and fiscal policies: 2019 country-specific recommendations (press release, 09/07/2019)

The European Council held a discussion on the basis of a horizontal report on country-specific recommendations.

• European Council conclusions, 20 June 2019

On 5 June 2019, the European Commission issued its proposals for Council recommendations for each EU member state.

After the proposed recommendations have been discussed and adopted by the Council, the member states will be expected to reflect them in their national policies in the next 12 months. 

• 2019 Country-specific recommendations

The Economic and Financial Affairs Council adopted conclusions on the outcomes of the in-depth reviews and the implementation of the 2018 country-specific recommendations. 

At the March Economic and Financial Affairs Council, the Commission presented an overview of the country reports, and the in-depth reviews in the framework of the macroeconomic imbalance procedure. Ministers discussed the implementation of investment-related country-specific recommendations.

• Economic and Financial Affairs Council, 12 March 2019
• Country reports for the 2019 European semester (European Commission)

The Economic and Financial Affairs Council adopted conclusions on the European Semester package and approved a draft recommendation on the economic policies of the euro area.

• Council conclusions on the annual growth survey
• Council conclusions on the alert mechanism report
• Council recommendation on the economic policy of the euro-area

The European Commission published the 'Autumn package' of documents concerning the European Semester in 2019. The package is based on the Commissions's Autumn 2018 Economic Forecast and builds on the priorities of the Commission President's State of the Union address.

Annual growth survey for 2019

The survey outlines the economic and social priorities on which the EU as a whole and its member states need to focus in 2019.

It states that while Europe's economy is now entering its sixth year of uninterrupted growth, growth is, however, not benefiting all citizens and countries in the same manner and remains vulnerable to global instability and medium to long-term challenges. At the same time, external risks and challenges are increasing, requiring a stronger and united European response.

• Annual Growth Survey 2019

Draft joint employment report

The draft Joint Employment Report uses the 'Social Scoreboard', assessing the performance of member states on the basis of 14 headline indicators. It also takes into account the national policy reforms vis-à-vis the ambitions set by the European Pillar of Social Rights. 

In a context of improving labor markets and declining poverty, 13 out of the 14 headline indicators of the Social Scoreboard recorded an improvement over the last year, on average. Still, the economic recovery is not yet benefiting all citizens and countries in the same manner.

The current economic upswing provides an opportunity for stepping up reforms aiming at improving the inclusiveness, resilience and fairness of labour markets and social protection systems, thus fostering convergence towards
better living and working conditions in the EU. 

Unemployment has returned to its pre-crisis level, but remains high in a number of member states. The unemployment rate reached 6.9% in the second quarter of 2018 and now stands at the lowest level in ten years. In the euro area, the unemployment rate at 8.3% in Q2 2018 remains one percentage point higher than the lowest level registered in 2008.

• Joint employment report accompanying the annual growth survey 2019

Alert mechanism report 2019

The alert mechanism report starts the annual macroeconomic imbalances procedure. Its aim is to identify and, if needed, address imbalances that may impede the proper functioning of the EU's economy.

In 2019, the European Commission intends to carry out in-depth reviews in 13  member states: Bulgaria, Croatia, Cyprus, France, Germany, Greece, Ireland, Italy, the Netherlands, Portugal, Romania, Spain, and Sweden.

• Alert mechanism report 2019

Draft euro area recommendation for 2019

The euro area recommendations provides tailored advice to euro area member states on issues relevant for the functioning of the euro area as a whole, such as policies related to correcting macro-economic imbalances, the euro area fiscal stance and the completion of the Economic and Monetary Union. 

The draft euro area recommendations for 2019 consist of five parts: 

1. Deepen the Single Market, improve the business environment, and pursue resilience-enhancing product and services market reforms. 

2. Rebuild fiscal buffers in euro area countries with high levels of public debt, support public and private investment and improve the quality and composition of public finances in all countries.  

3. Shift taxes away from labour and strengthen education systems and investment in skills as well as the effectiveness and adequacy of active labor market policies and social protection systems across the euro area. 

4. Make the backstop for the Single Resolution Fund operational, set up a European Deposit Insurance Scheme and strengthen the European regulatory and supervisory framework. Promote an orderly deleveraging of large stocks of private debt. Swiftly reduce the level of non-performing loans in the euro area and prevent their build up, including by removing  debt bias in taxation. 

5. Make swift progress on completing the Economic and Monetary Union

• Draft Council recommendation for the economic policy of the euro area for 2019