Abstract

The article provides an overview of work on implementation of the new EU strategy Europe 2020 adopted by the European Council on 17 June 2010. Europe 2020 is a strategy to help Europe emerge stronger from the crisis and prepare the EU economy for the next decade. Under the new Strategy, headline targets, which have been set by the European Council, will guide the efforts of the Member States in achieving their individual national targets. The new economic governance scheme has been implemented, namely ”European Semester” — an annual cycle of the economic and fiscal policy coordination. ”European Semester” starts in January, when the Commission presents its Annual Growth Survey, containing EU’s priorities on economic policy for the next year and ends in June by the adoption of the Council recommendation for Member States by European Commission. In the second part of the year, Member States finalize national budgets taking into account the Council guidance. In its Annual Growth Survey of the following year, the Commission assesses how Member States have taken EU guidance into account.

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