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This note accompanies the 2024 IDRs and tackles the EU economies’ exposure to economic developments abroad and spillovers stemming from their interconnectedness. The dependencies between individual Member States and selected non-EU countries in terms of their gross and value-added trade, import ...

This in-depth review (IDR) analyses the evolution of the Netherland’s vulnerabilities related to high private debt levels and a large current account surplus, which has crossborder relevance, and possibly newly emerging risks. This year’s IDR, which follows the 2024 Alert Mechanism Report (AMR) ...

This in-depth review (IDR) analyses the evolution of Romania’s vulnerabilities related to large government and external deficits, and possibly newly emerging risks. This year’s IDR, which follows the 2024 Alert Mechanism Report (AMR)published in November 2023, assesses the persistence or unwindi...

This in-depth review (IDR) analyses the evolution of Sweden’s vulnerabilities related to the real estate market and high private debt and – possibly - newly emerging risks. This year’s IDR, which follows the 2024 Alert Mechanism Report (AMR) published in November 2023, assesses the persistence o...

This in-depth review analyses the evolution of Cyprus’s vulnerabilities related to high private, government and external debt, and possibly newly emerging risks. This year’s IDR, which follows the 2024 Alert Mechanism Report (AMR) published in November 2023, assesses the persistence or unwinding...

This in-depth review (IDR) analyses the evolution of Spain’s vulnerabilities related to high private, government and external debt, which have cross-border relevance, and possibly newly emerging risks. This year’s IDR, which follows the 2024 Alert Mechanism Report (AMR) published in November 202...

This in-depth review (IDR) analyses the extent of Slovakia’s vulnerabilities related to cost competitiveness, external accounts, house prices and household debt. Last year, an in-depth review was undertaken for Slovakia, and the Commission concluded that Slovakia was not experiencing imbalances,...

Economic governance is a key aspect of the EU enlargement process, mirroring efforts in the EU to strengthen economic policy coordination and multilateral surveillance under the European Semester. The Economic and Financial Dialogue between the EU and the enlargement countries aims to prepare th...

The 2024 Convergence Report covers the following six Member States with a derogation: Bulgaria, Czechia, Hungary, Poland, Romania and Sweden. The staff working document accompanying this report provides a more detailed assessment of the state of convergence in these Member States. Article 140(1)...

The fourth post-programme surveillance mission to Greece took place from 8 to 15 April 2024. It involved European Commission staff in liaison with European Central Bank (ECB) staff. European Stability Mechanism (ESM) staff participate on aspects relating to its Early Warning System, and staff fr...