1. Launching the 2016 European Semester
23 November 2015

2. Streamlined European Semester
European Semester – 1st edition in 2011
Integrated surveillance
Annual Growth Survey 2015
More focused country-specific recommendations
Advanced publication of country reports
Genuine dialogue with Member States
October Package 2015 as follow-up to the 5 Presidents Report
Better integrating the euro area and national dimension
Stronger focus on employment and social performance
Benchmarking and pursuing best practices
Reform support through EU funds and technical assistance
Effective democratic legitimacy and ownership

3. Revamp European Semester
National Ownership: more focused and strategic National Reform Programs; greater role of National Parliaments and social partners; interact more actively at political level. Implementation: periodic reporting; benchmarking; peer review among Member States; better link to EU funds and technical assistance Integrate better the euro area dimension, analysing and highlighting euro area specific policy needs. Accountability: earlier & broader EP involvement.

4. Review Economic Governance
Greater clarity and transparency of rules ("6- & 2- Pack"); preserving stability-oriented nature. Fuller use of the Macroeconomic Imbalances Procedure. New national Competitiveness Authorities. New advisory European Fiscal Board. Work to integrate the Fiscal Compact in EU law.

5. Strengthening the Social Dimension
Improve social dimension of European Semester (social dialogue; role of social & employment matters in NRPs and EU analyses). Improve labour mobility, employability & skills. Support fight against long term unemployment. European Pillar of Social Rights

7. 17 November: Assessment of Draft Budgetary Plans
End of Year
Budget Law
European Semester – Spring
EU MS medium-term fiscal and economic policy plans
 Assessment of compliance with SGP rules
 Macroeconomic surveillance
=> Policy guidance and recommendations
Autumn
EA MS draft budgetary plans for following year
Opinion by the Commission on BE, DE, EE, FR, IE, IT, LV, LT, LU, MT, NL, AT, SI, SK, FI
Overall assessment for euro area
 Discussion by Eurogroup
Opinion on Draft Budgetary Plans
Would expected outcomes of the plan comply with fiscal recommendations?
Inform the national debate
National parliaments can invite COM

8. 26 November: Annual Growth Survey 2016
Kicks off the European Semester
Programmatic document setting out the main EU economic priorities for the next 12 months
Building up on progress made in 2015 priority areas

9. Euro area recommendations
The national moment
Country reports (February) and country-specific recommendations (May)
The European moment
Autumn package with euro area recommendations (November)

10. Alert Mechanism Report 2016
Part of surveillance under Macroeconomic Imbalances Procedure
The AMR uses a set of indicators to screen Member States (scoreboard plus auxiliary indicators)
Three employment indicators added to the scoreboard this year
Member States identified via scoreboard approach
In-depth review as part of February country reports

11. Joint Employment Report 2016
Commission proposal
Final report agreed with Council
Analysis of employment situation in Europe and Member States' policy responses
Economic growth and job creation are a prerequisite for preserving and restoring social fairness
Important to learn from best practices in countries that successfully combine sustainable growth and fairness

12. European Surveillance Cycle
November
Annual Growth Survey
Alert Mechanism Report
Autumn forecast
Commission's opinions on draft budgetary plans
Commission's assessment of budgetary situation of euro area
Winter forecast
Country Reports
NEW: Commission proposals for euro area recommendations
15 April
15 October
Stability/Convergence Programmes National Reform Programmes
Euro Area Member States: Draft Budgetary Plans
Country-Specific Recommendations
Spring forecast
May/June