The Network welcomes the publication of the European Commission Communication. The Network supports the objective to reach a consensus on reform ahead of Member States’ budgetary processes for 2024. The extended reliance on the “exceptional circumstances” clauses risks undermining EU and national fiscal frameworks, which could make it increasingly difficult to return to a rules-based approach at a time when public debt is high.
This note sets out how the enhanced role for national IFIs - including the proposed obligation on the EU institutions to take IFI input into consideration when taking decisions – could be operationalised.
This note sets out more detailed proposals regarding minimum standards and mandates. Raising the minimum standards would be required to ensure that all institutions can deliver the proposed extension of the minimum mandates, particularly with respect to the resources of IFIs and their access to information.
EU Fiscal and Economic Governance Review: Contribution from the Network of Independent EU Fiscal Institutions
The European Commission is currently undertaking a review of the EU economic governance framework, and is seeking the views of the EU IFIs. National IFIs have substantial experience and expertise in monitoring fiscal policy in EU countries and in the application of the EU fiscal rules. This paper draws on those experiences as a contribution to the wider debate.
The member institutions of the Network of EU IFIs share the view that it is time to ensure that the role of IFIs is further strengthened within the EU and national fiscal frameworks, and the Network proposes EU action to reinforce and protect IFIs.
The Network of EU Independent Fiscal Institutions (EU IFIs) endorsed the Report "Medium-term budgetary frameworks: A contribution on definitions and identification of good practices" in its meeting held in Rome on the 4th of May 2018.
In a statement, the Network of EU IFIs expresses deep concerns about the recent news on the Danish government’s decision to relocate the Danish Economic Council away from the Copenhagen area.
In a statement responding to the EU Commission’s proposal for a Council Directive implementing the Fiscal Compact into EU law, the Network of EU Independent Fiscal Institutions (IFIs) welcomed the proposal as a right step forward towards the consolidation of national IFIs as key institutions to promote responsible fiscal policies at the national level.
On 7 November 2017, members of the Network of EU IFIs agreed to re-new the leadership structure of the Network
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 Network of EUIFIs held a 1-day workshop on medium-term budgetary frameworks in the EU member states - current practices in the EU, consequences for IFIs and considerations how to improve them further Subsequently, the Network prepared the following paper summarizing its position.
One of the most salient novelties of the recent reforms of the EU fiscal framework has been the decision to promote the establishment of Independent Fiscal Institutions (IFIs). As stated in the Network of EU Independent Fiscal Institutions position paper of 5 November 2015, in order for the EU fiscal framework to function effectively, it is highly desirable to ensure that the IFIs are strong enough to fulfill their functions.
On 11 September 2015, representatives of independent fiscal institutions operating in the EU agreed on the establishment of the Network of EU Independent Fiscal Institutions
The Network of EU Independent Fiscal Institutions (IFIs) has examined the report on Completing Europe’s Economic and Monetary Union (henceforth referred to as the Five Presidents’ Report), the October Commission package to begin the implementation of the plans to deepen the EMU, in particular the Commission Decision establishing an independent advisory European Fiscal Board (EFB), and reflected on these initiatives to work towards an integrated framework for sound fiscal policies. See the full text of the position paper for more information.