EUROPA - Press Releases - 2011 Report on Public Finances: the sustainability of the public finances is the key policy concern in the wake of the crisis

EUROPA - Press Releases - 2011 Report on Public Finances: the sustainability of the public finances is the key policy concern in the wake of the crisis

The economic crisis has taken a heavy toll on EU Member States' public finances, making debt sustainability a major challenge across the Union. At the same time, a major overhaul of EU fiscal surveillance is underway. The 2011 Report on the Public Finances in EMU takes a look at the recent developments in public finances, analyses new ways of assessing debt sustainability and describes the changes to budgetary surveillance in the EU. These reforms put prevention and debt reduction at the centre of EU budgetary surveillance, reflecting on the lessons of the crisis.