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"Of the countries assessed today, only Bulgaria, Estonia, plan to keep their general government deficits below the 3% of GDP reference value set in the Stability and Growth Pact over the programmes' period." finds a new EC report dated March 17, 2010, which assesses the stability and convergence programmes of fourteen EU Member States.

The EC report examined the updated stability and convergence programmes (SCPs)1 of Belgium, Bulgaria, Germany, Estonia, Ireland, Spain, France, Italy, the Netherlands, Austria, Slovakia, Sweden, Finland and the United Kingdom.

The EC says that "[T]hese assessments have to be seen against the background of the sharp economic and financial crisis which has had a major impact on public finances. Reflecting the working of automatic stabilisers and discretionary stimulus measures implemented in line with the European Economic Recovery Plan (EERP)2 to cope with the exceptional economic circumstances, a large majority of Member States is currently subject to the excessive deficit procedure following corresponding Council decisions in 2009.

Of the countries assessed today, only Bulgaria, Estonia, plan to keep their general government deficits below the 3% of GDP reference value set in the Stability and Growth Pact over the programmes' period.

Overall, for the majority of the fourteen programmes, the growth assumptions underlying the budgetary projections are assessed as rather optimistic, implying that budgetary outcomes might be worse than targeted. Furthermore, in several cases, the budgetary consolidation strategy is not sufficiently backed up by concrete measures from 2011 onwards.

"The programmes assessed today are marked by two milestones: the stimulus measures put in place to avert the economic downward spiral, and the fiscal exit strategy as agreed at the end of last year. Our assessment is that the exit strategy as agreed by the Council is being implemented: globally 2010 will still be a stimulus year followed by ambitious consolidation efforts in 2011. The main risks to consolidation stem from somewhat optimistic macroeconomic assumptions and the lack of specification of consolidating measures", said Economic and Monetary Affairs Commissioner Olli Rehn."

You can download the report here

Projects

1 - 31 August 2010
In Focus
A new article published by the European Central Bank (ECB) examines “The impact of the financial crisis on the Central and Eastern European Countries” and elicit recommendations for the policies they should pursue.
The Vagabond has featured the EuPI conference New Reform Agenda of the New EU Member States in its new issue (Issue 38, November 2009). The article continues by saying “Perhaps the new EU member states can prove the aptness of the cliché that a crisis is just an opportunity click here to continue reading
Article in the EUOBSERVER quotes George Soros statement on the New Member States of the EU, saying "the European Union must do more to help its struggling eastern region, including a fast-tracking of member state applications to join the euro currency."



In an interview with EUobserver on Thursday (12 November), he also called
on the EU to develop a dedicated strategy to alleviate the difficulties
faced by the region's Roma population.
The World Bank has released a new report on eve of 20th anniversary of the Berlin Wall’s fall, focused on Emerging Europe and Central Asia. The report says structural reforms are now necessary to protect hard-won gains.
EurActiv has featured the "The Unfinished Business of the Fifth Enlargement Countries" report by Assya Kavrakova, Program Director of the European Policies and Civic Participation Program of OSI-Sofia and EuPI.
As Bulgaria is heading to a single party minority government in July 2009, EuPI has prepared a  fact sheet with the longevity of governments, including type of govenment, in the new EU member states in CEE prior and after accession.
As Dominique de Villepin, head of an international advisory panel to Prime Minister Stanishev, will present a report “Bulgaria in the EU”, you can read EuPI/OSI-Sofia’s report “BULGARIA: The EU New Member States as Agenda Setters in the Enlarged European Union” in English here and a summary in Bulgarian here.
An op-ed by Marin Lessenski was published in the European Voice on 30 April 2009, highlighting the findings of the project "The EU New Member States as Agenda Setters in the Enlarged European Union".You can accesss the article  "Impressionists as dentists:What would EU policy look like if its newer members were policy-drivers?" here.

The report has also been featured in the EU Observer, you can find the article "EU still 'digesting' 2004 enlargement five years on" here.
Michael Emerson (CEPS), discusses in a recent commentary the implications and responses to the economic crisis in Eastern Europe. He makes a strong case, inter alia, for quick opening of the Eurozone for the new member states as an adequate measure to curb the crisis.
Publications
23.07.2009

“The Unfinished Business of the Fifth Enlargement Countries” analyzes the problems faced by the ten new member states after their accession to the EU in eleven policy areas including political development, the economy, the healthcare system and education.
EuPI has released a series of reports within the project "The EU New Member States as Agenda Setters in the Enlarged European Union", with the "Not Your Grandfather’s Eastern Bloc" comparative policy report.
EuPI has contributed to a major report on EU-Russia relations by ECFR's Mark Leonard and Nicu Popescu

2008 European Policies Initiative
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