Facilitating the Implementation of the Fiscal Compact and the Stability and Growth Pact by EU IFIs

In this document, we propose the idea of a Memorandum of Understanding (MoU) between the European Commission and the EU IFIs, along the lines of those that many IFIs have with their national agencies. Its purpose would be to codify the information flow between the Commission and the EU IFIs.

The MoU should mainly cover the following areas: transparent communication of policy methodologies to determine budgetary targets (ranges and adjustment paths for mediumterm objectives), real-time access to methodological documents and work in progress, data and software needed to allow IFIs to fulfil their mandates, communication at the technical level in areas with considerable room for judgment and discretion in interpretation.

See the full text of the paper for more information.