2016 Reform Programme and 2016 Stability Programme of Germany - Main contents
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official title
Council Recommendation of 12 July 2016 on the 2016 National Reform Programme of Germany and delivering a Council opinion on the 2016 Stability Programme of Germany| Legal instrument | Recommendation |
|---|---|
| Original proposal | COM(2016)326  |
| CELEX number i | 32016H0818(05) |
| Document | 12-07-2016; Date of adoption |
|---|---|
| Publication in Official Journal | 18-08-2016; OJ C 299 p. 19-22 |
18.8.2016 |
EN |
Official Journal of the European Union |
C 299/19 |
COUNCIL RECOMMENDATION
of 12 July 2016
on the 2016 National Reform Programme of Germany and delivering a Council opinion on the 2016 Stability Programme of Germany
(2016/C 299/05)
THE COUNCIL OF THE EUROPEAN UNION,
Having regard to the Treaty on the Functioning of the European Union, and in particular Articles 121(2) and 148(4) thereof,
Having regard to Council Regulation (EC) No 1466/97 of 7 July 1997 on the strengthening of the surveillance of budgetary positions and the surveillance and coordination of economic policies (1), and in particular Article 5(2) thereof,
Having regard to Regulation (EU) No 1176/2011 of the European Parliament and of the Council of 16 November 2011 on the prevention and correction of macroeconomic imbalances (2), and in particular Article 6(1) thereof,
Having regard to the recommendation of the European Commission,
Having regard to the resolutions of the European Parliament,
Having regard to the conclusions of the European Council,
Having regard to the opinion of the Employment Committee,
Having regard to the opinion of the Economic and Financial Committee,
Having regard to the opinion of the Social Protection Committee,
Having regard to the opinion of the Economic Policy Committee,
Whereas:
(1) |
On 26 November 2015, the Commission adopted the Annual Growth Survey, marking the start of the 2016 European Semester for economic policy coordination. The priorities of the Annual Growth Survey were endorsed by the European Council on 17-18 March 2016. On 26 November 2015, on the basis of Regulation (EU) No 1176/2011, the Commission adopted the Alert Mechanism Report, in which it identified Germany as one of the Member States for which an in-depth review would be carried out. On the same day, the Commission also adopted a recommendation for a Council Recommendation on the economic policy of the euro area. This Recommendation was endorsed by the European Council on 18-19 February 2016 and adopted by the Council on 8 March 2016 (3). As a country whose currency is the euro and in view of the close interlinkages between the economies in the economic and monetary union, Germany should ensure the full and timely implementation of the Recommendation. |
(2) |
The country report for Germany was published on 26 February 2016. It assessed Germany's progress in addressing the country-specific recommendations adopted by the Council on 14 July 2015 and Germany's progress towards its national Europe 2020 targets. It also included the in-depth review under Article 5 of Regulation (EU) No 1176/2011. On 8 March 2016, the Commission adopted a Communication presenting the results of the in-depth review. The Commission's analysis leads it to conclude that Germany is experiencing macroeconomic imbalances. In particular, the large and persistent current account surplus reflects excess savings and subdued investment in both the private and public sectors. Weak domestic investment hampers potential growth and strong reliance on external demand entails macroeconomic risks in a context of subdued foreign demand. The current account surplus also has, given its size, adverse implications for the economic performance of the euro area. Addressing it through increased investment would raise Germany's growth potential and help sustain the recovery in the euro area. |
(3) |
On 15 April 2016, Germany submitted its 2016 Stability Programme and on 29 April 2016 it submitted its National Reform Programme. In order to take account of their interlinkages, the two programmes have been assessed at the same time. |
(4) |
Relevant country-specific recommendations have been addressed in the programming of the European Structural and Investment Funds for the 2014-2020 period. As foreseen in Article 23 of Regulation (EU) No 1303/2013 of the European Parliament... |
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