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Economic Policy and Surveillance in Europe: Introduction

Economic governance within the EU continues to evolve; a process which has accelerated since the onset of the Global Financial Crisis. In particular, additional rules and processes have been created to support the completion of Economic and Monetary Union (EMU). It is within the Euro Area that we see the greatest manifestation of the new rules for economic governance at a supranational level. The ambition for the completion of EMU is exemplified in the Five Presidents’ Plan which provided a map for the completion of ‘genuine’ Economic , Financial , Fiscal and Political Union (Junker et al., 2015). Reforms across these broad fronts have evolved at varying speeds, with some areas significantly more advanced than others. The completion of ‘genuine’ EMU by 2025 is a far from certain prospect.