Council of the European Union and European Parliament 16 November 2011, 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

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REGULATION (EU) No 1176/2011 establishes a framework for the detection, prevention, and correction of macroeconomic imbalances within the European Union. Key provisions include the implementation of an alert mechanism and a scoreboard of indicators for early identification of imbalances, as well as procedures for in-depth reviews and corrective action plans for Member States facing excessive imbalances. The regulation emphasizes the importance of national ownership and cooperation among EU institutions, ensuring that responses are tailored to the specific circumstances of each Member State while respecting their national practices.AI