Considerations on COM(2013)342 - Provision and quality of statistics for the macroeconomic imbalances procedure - Main contents
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This page contains a limited version of this dossier in the EU Monitor.
| dossier | COM(2013)342 - Provision and quality of statistics for the macroeconomic imbalances procedure. |
|---|---|
| document | COM(2013)342  |
| date | June 7, 2013 |
(2) Regulation (EU) No 1174/2011 of the European Parliament and of the Council of 16 November 2011 on enforcement measures to correct excessive macroeconomic imbalances in the euro area[2] lays down a system of financial sanctions against euro area Member States for the effective correction of excessive macroeconomic imbalances.
(3) Reliable statistical data are the basis for effective surveillance of macroeconomic imbalances. To guarantee sound and independent statistics, Member States should ensure the professional independence of national statistical authorities, consistent with the European statistics code of practice laid down in Regulation (EC) No 223/2009 of the European Parliament and of the Council of 11 March 2009 on European statistics[3].
(4) The AMR, which is based on a scoreboard with a set of indicators the values of which are compared to their indicative thresholds, is an initial screening device whereby the Commission identifies Member States where it considers that developments warrant further in-depth analysis to determine whether imbalances exist or risk emerging. The AMR should include MIP relevant data. It is however in the following in-depth reviews that the driving forces behind the observed developments are analysed in detail with a view to determining the nature of the imbalances. The scoreboard and the thresholds are not interpreted mechanically, but are subject to economic reading. When carrying out in-depth reviews, the Commission will examine a broad range of economic variables and additional information taking due account of country specific circumstances. For these reasons, all the data that may be used for the purpose of the macroeconomic imbalances procedure cannot be listed in advance in an exhaustive manner, but should be defined by reference to the procedures set out in Regulation (EU) No 1176/2011 for the detection of macroeconomic imbalances as well as the prevention and correction of excessive macroeconomic imbalances within the Union. In implementing the macroeconomic imbalances procedure, the Commission and the Council should give preference to statistics which are compiled and transmitted, by Member States, to the Commission (Eurostat). Other statistics, which are not compiled and transmitted this way, should only be used when the former statistics do not provide the required information, and taking due account of the quality of these other statistics.
(5) A reliable procedure should be set up for the compilation, monitoring and release of the data relevant for the macroeconomic imbalances procedure (hereinafter referred to as “MIP relevant data”) as well as a continuous improvement of the underlying statistical information in line with the Commission’s quality management frameworks for European statistics[4]. The Group of Directors of Macroeconomic Statistics (DMES), established by the Commission, is an appropriate expert group to provide the Commission (Eurostat) with the required assistance for the application of a robust quality monitoring procedure for the MIP relevant data.
(6) It is essential that the statistical production necessary for the performance of the activities of the Union should only be based on reliable data. In the production of MIP relevant data, which is an essential input for the detection of macroeconomic imbalances as well as the prevention and correction of excessive macroeconomic imbalances within the Union, unreliable data can have a significant impact on the interest of the Union. Additional measures to make the enforcement of the production, provision and quality monitoring of MIP relevant data more effective are necessary for the performance of the macroeconomic imbalances procedure. Those measures should enhance the credibility of the underlying statistical information as well as of the provision and quality monitoring of the MIP relevant data. In order to deter against misrepresentation, whether intentional or due to serious negligence, of MIP relevant data, a mechanism of financial sanctions should be established, which will also serve the purpose of ensuring due diligence in the production of MIP relevant data.
(7) To supplement the rules on calculating the fines for manipulation of statistics as well as the rules on the procedure to be followed by the Commission for the investigation of such actions, the power to adopt acts in accordance with Article 290 of the Treaty on the Functioning of the European Union (“the Treaty”) should be delegated to the Commission in respect of detailed criteria for establishing the amount of the fine and for conducting the Commission’s investigations. It is of particular importance that the Commission carry out appropriate consultations during its preparatory work, including at expert level. When preparing and drawing up delegated acts, the Commission should ensure the simultaneous, timely and appropriate transmission of relevant documents to the European Parliament and the Council.
(8) Close cooperation and on-going dialogue should be established between the Commission and Member States’ statistical authorities in order to ensure the quality of the MIP relevant data reported by Member States and the underlying statistical information.
(9) Close cooperation between the European Statistical System and the European System of Central Banks should be ensured in relation to MIP relevant data, in line with Article 9 of Regulation (EC) No 223/2009, in order to minimise the reporting burden, guarantee coherence, improve the underlying statistics and ensure comparability.
(10) In order to ensure uniform conditions for the implementation of this Regulation, implementing powers should be conferred on the Commission and exercised in accordance with Regulation (EU) No 182/2011 of the European Parliament and of the Council of 16 February 2011 laying down the rules and general principles concerning mechanisms for control by Member States of the Commission’s exercise of implementing powers[5].
(11) Since the objective of this Regulation, namely to set up a reliable common procedure for the provision and quality monitoring of MIP relevant data as well as a continuous improvement of the underlying statistical information, cannot be achieved sufficiently by the Member States and can be better achieved at Union level, the Union may adopt measures, in accordance with the principle of subsidiarity as set out in Article 5 of the Treaty on the European Union. In accordance with the principle of proportionality, as set out in that Article, this Regulation does not go beyond what is necessary in order to achieve that objective.
(12) Eurostat, as the statistical authority of the Union, should carry out the statistical tasks devolved to the Commission under this Regulation. These tasks should be performed by Eurostat in conformity with the statistical principles laid down in Regulation (EC) No 223/2009 and in accordance with Commission Decision 2012/504/EU of 17 September 2012 on Eurostat[6].