Dialogue with the Member States
The Commission shall ensure an ongoing dialogue with Member States. To that end, the Commission shall, in particular, carry out missions for the purpose of the assessment of the socio-economic situation in the Member State concerned and the identification of any risks or difficulties in complying with this Regulation. For the purposes of that dialogue, the Commission may seek the views of relevant stakeholders based in the Member State concerned.
Monitoring missions
1. The Commission may undertake monitoring missions in Member States which are the subject of recommendations issued pursuant to Article 121(4) TFEU. 2. When the Member State concerned is a Member State whose currency is the euro or a Member State that is participating in the exchange-rate mechanism in the third stage of economic and monetary union (ERM II) as established by Resolution of the European Council of 16 June 1997 ( 25 ) , the Commission may, where appropriate, invite representatives of the European Central Bank to participate in those monitoring missions.
Report
1. By 31 December 2030 and every five years thereafter, the Commission shall publish a report on the application of this Regulation accompanied, where appropriate, by a proposal to amend this Regulation. 2. The report referred to in paragraph 1 shall review: (a) the effectiveness of this Regulation in achieving its objectives as set out in Article 1; (b) the progress in ensuring closer coordination of economic policies and sustained convergence of economic performances of the Member States. 3. The report shall be transmitted to the European Parliament and the Council.
Transitional provisions
1. For the first national medium-term fiscal-structural plans, the following provisions shall apply: (a) by way of derogation from Article 9(1), the Commission shall transmit prior guidance to the Member States concerned by 21 June 2024 based on the latest Commission forecast, and Member States shall submit their national medium-term fiscal-structural plans by 20 September 2024, in accordance with Article 11, unless the Member State and the Commission agree to extend that deadline by a reasonable period; (b) by way of derogation from Article 9(2), Member States may request a technical exchange with the Commission during the month before 21 June 2024; (c) by way of derogation from Article 11(3), Member States may conduct a public consultation of social partners, regional authorities, civil society organisations and other relevant national stakeholders along the principles set out in Article 11, with appropriate deadlines; (d) during the period of operation of the Recovery and Resilience Facility, commitments included in the approved recovery and resilience plan of the Member State concerned shall be taken into account for an extension of the adjustment period in accordance with Article 14, provided that the recovery and resilience plan contains significant reforms and investments aimed at improving fiscal sustainability and enhancing the growth potential of the economy, and that the Member State concerned commits to continue the reform effort over the remainder of the period covered by the national medium-term fiscal-structural plan, as well as to maintain the nationally financed investment levels realised on average over the period covered by the recovery and resilience plan; (e) where a Member State requests an exception to the no-backloading safeguard referred to in Article 6, point (c), projects supported by loans from the Recovery and Resilience Facility as well as national co-financing of programmes funded by the Union in 2025 and 2026 shall be taken into account, provided that such exception does not endanger fiscal sustainability over the medium term; (f) acknowledging the exceptional impact of recent economic shocks and current uncertainty on estimates of potential growth, Member States may use more stable series than the ones resulting from the commonly agreed methodology, provided that such use is duly justified by economic arguments and that the cumulated growth over the projection horizon remains broadly in line with the results of that methodology. 2. By 31 December 2028, the Commission shall communicate to the European Parliament and to the Council its preliminary findings on the application of this Regulation.
Repeal of Regulation (EC) No 1466/97
Regulation (EC) No 1466/97 is repealed.
Entry into force
This Regulation shall enter into force on the day of its publication in the Official Journal of the European Union .
Provisions on this page are reproduced verbatim from official open data. See the attribution line.
Source: EUR-Lex (Publications Office of the EU), © European Union, reuse permitted under Commission Decision 2011/833/EU.