The European Commission’s Evaluations On Italy’s Macroeconomic Imbalances. Between The Flexibility Granted And The Desired Reliability
The European economic governance reform of 2011 (the socalled six pack) has placed a greater emphasis on macroeconomic surveillance, through the introduction of mechanisms that are both preventative and corrective, adopted from the procedures which have already been applied for public finance with the PSC. In fact, following the financial crisis of 2008, the link between public finances and the complex economic situation was highlighted. In this perspective, the Macroeconomic Imbalances Procedure also includes the possibility that some Member States with excessive macroeconomic imbalances are subjected to an indepth review (In Depth Review - IDR) aimed at implementing the re-entry measures recommended by the Council.