Proposal for a REGULATION OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL amending Regulation (EU) No 472/2013 as regards the economic and budgetary surveillance of Member States in the euro area experiencing or threatened with serious difficulties with respect to their financial stability
Date: 2025-10-02
Institutions: Directorate-General for Economic and Financial Affairs, European Commission
Subjects: budget deficit, coordination of EMU policies, economic governance (EU), economic stabilisation, euro area, financial stability, macroeconomics, public debt, support mechanism

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   EUROPEAN COMMISSION  Brussels, 2.10.2025  COM(2025) 593 final 2025/0312 (COD)  Proposal for a REGULATION OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL amending Regulation (EU) No 472/2013 as regards the economic and budgetary surveillance of Member States in the euro area experiencing or threatened with serious difficulties with respect to their financial stability  
 
EXPLANATORY MEMORANDUM 

1. 

• 

CONTEXT OF THE PROPOSAL 

Reasons for and objectives of the proposal 

Regulation (EU) No 472/2013, adopted on 21 May 2013, establishes a comprehensive policy 
framework for addressing situations where Member States in the euro area (a) experience or 
are  threatened  with  serious  difficulties  with  respect  to  their  financial  stability,  leading  to 
potential spill-over effects on other Member States in the euro area, or (b) request or receive 
financial  assistance.  Specifically,  Regulation  (EU)  No  472/2013  principally  concerns  three 
regimes.  Firstly,  that  Regulation  empowers  the  Commission  to  subject  a  euro  area  Member 
State to enhanced surveillance in case of threats to a Member State’s financial stability which 
are likely to have adverse spill-over effects on other euro area Member States, or when a euro 
area Member State is in receipt of precautionary financial assistance. Under this surveillance, 
the concerned Member State’s fiscal situation is monitored more closely, and it is required to 
adopt  measures  aimed  at  addressing  the  source  of  difficulties,  taking  into  account 
recommendations  stemming  from  the  Union’s  economic  governance  framework.  Finally, 
upon  request  from  the  Commission,  the  concerned  Member  State  can  also  be  required  to 
provide additional information  related to  its financial sector.  Secondly,  Regulation  (EU) No 
472/2013  also  sets  out  the  legal  framework  for  macroeconomic  adjustment  programmes 
associated  with  financial  assistance  from  the  European  Stability  Mechanism  (ESM)  or  the 
European  Financial  Stability  Facility  (EFSF),  ensuring  that  they  are  properly  aligned  and 
synchronised  with  the  Union’s  economic  governance  framework.  Regulation  (EU)  No 
472/2013 exempts the concerned Member State from submitting a stability programme, which 
is  instead  integrated  into  the  macroeconomic  adjustment  programme.  In  addition,  the 
concerned  Member  State  is  exempted  from  submitting  reports  when  it  is  subject  to  an 
excessive  deficit  procedure,  and  from  the  monitoring  and  assessment  under  the  European 
Semester,  to  avoid  overlaps  and  duplication  of  reporting.  Thirdly,  Regulation  (EU)  No 
472/2013  establishes  the  rules  governing  post-programme  surveillance,  applicable  once  a 
macroeconomic  adjustment  programme  ends  and  until  75%  of  the  received  assistance  is 
repaid.  

Since  the  adoption  of  Regulation  (EU)  No  472/2013  in  2013,  the  regulatory  landscape  has 
undergone  significant  changes.  In  particular,  the  Union’s  economic  governance  framework 
was  reformed  in  2024  with  the  adoption  of  Regulations  (EU)  2024/1263,  2024/1264  and 
Directive  (EU)  2024/1265.  The  reform  introduced  new  concepts  and  made  changes  to  the 
structure  of  the  Union’s  economic  governance  framework.  In  particular,  national  medium-
term fiscal-structural plans, introduced by Regulation (EU) 2024/1263, are the cornerstone of 
the 2024 reform. They replaced the Stability and Convergence Programmes and the National 
investment 
Reform  Programmes, 
commitments of each Member State within a common framework. Given the urgency at that 
time for the co-legislators to agree on a reform of the EU economic governance framework, 
the Commission did not propose amendments to other pieces of legislation that form part of 
the Union’s economic governance framework. 

the  fiscal,  reform  and 

thereby  bringing 

together 

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Other relevant changes to the application of Regulation (EU) No 472/2013 have also occurred 
since 2013. In particular, the creation of the Single Supervisory Mechanism (SSM) has led to 
a  new  division  of  responsibilities  for  the  supervision  of  credit  entities.  Furthermore,  the 
European  Financial  Stability  Facility  (EFSF),  which  was  created  as  a  temporary  crisis 
resolution  mechanism  by  euro  area  countries  in  June  2010,  may  no  longer  engage  in  new 
financing programmes as of 1 July 2013.  

There  is  thus  a  need  to  ensure  consistency  between  Regulation  (EU)  No  472/2013  and  the 
reformed  EU  economic  governance  framework,  as  well  as  to  reflect  the  institutional 
developments that have occurred since 2013. 

In addition, since the adoption of Regulation (EU) No 472/2013 in 2013, the Commission has 
gained  valuable  insights  and  experience  regarding  the  activation  of  both  enhanced 
surveillance when a euro area Member State is in receipt of precautionary financial assistance 
and  post-programme  surveillance  when  a  Member  State  exits  a  macroeconomic  adjustment 
programme.  In  particular,  experience  has  shown  that  the  current  design  of  enhanced 
surveillance  may  have  a  deterrent  effect  on  Member  States  seeking  precautionary  financial 
assistance  and  may  result  in  the  application  of  additional  surveillance  when  not  warranted. 
Similarly, with regards to post-programme surveillance, the European Court of Auditors, in its 
Special Report No 18/20211, has identified certain shortcomings in the effectiveness of post-
programme  surveillance,  including  a  lack  of  clear  focus  and  objectives,  as  well  as  overlaps 
with other economic surveillance processes, such as the European Semester. The amendments 
to  Regulation  (EU)  No  472/2013,  required  to  reflect  the  reforms  to  the  EU  economic 
governance framework and recent institutional developments, also provide an opportunity to 
improve  and  fine-tune  enhanced  surveillance  and  post-programme  surveillance,  by 
incorporating the lessons learned and making targeted improvements to ensure their continued 
effectiveness. In doing so, the proposed amendments will introduce several simplifications to 
Regulation  (EU)  No  472/2013,  thus  simplifying  the  broader  EU  economic  governance 
framework,  reducing  administrative  burden  for  Member  States,  and  contributing  to  the 
Commission’s simplification agenda. 

Considering  the  above,  the  objective  of  this  proposal  is  first  to  ensure  consistency  between 
Regulation  (EU)  No  472/2013  and  the  reformed  Union  economic  governance  framework. 
Secondly,  the  proposal  aims  at  reflecting  the  institutional  developments  that  have  occurred 
since  2013,  including  regarding  the  creation  of  the  SSM  and  the  fact  that  the  EFSF  can  no 
longer  enter  into  new  financing  programmes.  Thirdly,  in  light  of  the  experience  accrued 
through the application of Regulation (EU) No 472/2013, the proposal also seeks to clarify the 
application of enhanced surveillance when a Member State whose currency is the euro is in 
receipt of precautionary financial assistance, explicitly linking its application to precautionary 
support  that  requires  new  policy  measures.  Similarly,  the  proposal  seeks  to  clarify  the 
objective and scope of post-programme surveillance, in  order to  increase its coherence with 

1 

European  Court  of  Auditors  Special  Report  18/2021:  Commission’s  surveillance  of  Member  State 
exiting a macroeconomic adjustment programme: an appropriate tool in need of streamlining. 

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the  reformed  Union  economic  governance  framework,  as  well  as  to  achieve  targeted 
streamlining, in order to avoid a duplication of reporting requirements. 

• 

Consistency with existing policy provisions in the policy area 

The proposed amendments to Regulation (EU) No 472/2013 are consistent with the existing 
policy provisions in the policy area, considering the significant changes that have occurred in 
the  regulatory  landscape  since  its  adoption  in  2013.  The  EU  economic  governance 
framework, which entered into force on 30 April 2024, following the amendments to Council 
Regulation  (EC)  No  1467/97  and  the  adoption  of  Regulation  (EU)  2024/1263,  introduces 
important  modifications  to  the  implementation  of  the  Stability  and  Growth  Pact,  and  the 
proposed  amendments  to  Regulation  (EU)  No  472/2013  ensure  consistency  with  these 
changes.  Specifically,  the  proposed  amendments  take  into  account  the  introduction  of  the 
medium-term  fiscal-structural  plan  and  the  interaction  with  the  enhanced  surveillance 
procedure, as set out in Article 32 of Regulation (EU) 2024/1263. Furthermore, the proposed 
amendments are consistent with the creation of the SSM under Council Regulation (EU) No 
1024/2013. 

• 

Consistency with other Union policies 

The  proposal  to  amend  the  regulation  will  contribute  to  the  Commission’s  simplification 
agenda  aimed  at  boosting  competitiveness  and  safeguarding  economic,  social  and 
environmental goals by reducing regulatory burdens and simplifying EU laws thereby making 
their implementation easier. 

2. 

• 

LEGAL BASIS, SUBSIDIARITY AND PROPORTIONALITY 

Legal basis 

The legal basis of the proposal is Article 136 in combination with Article 121(6) of the Treaty 
on  the  Functioning  of  the  European  Union  (TFEU).  Article  136  provides  that  in  order  to 
ensure the proper functioning  of economic  and  monetary union,  and in  accordance with  the 
relevant  provisions  of  the  Treaties,  the  Council  shall,  in  accordance  with  the  relevant 
procedure from among those referred to in Articles 121 and 126, adopt measures specific to 
those  Member  States  whose  currency  is  the  euro:  (a)  to  strengthen  the  coordination  and 
surveillance of their budgetary discipline; (b) to set out economic policy guidelines for them, 
while ensuring that they are compatible with those adopted for the whole of the Union and are 
kept under surveillance. Article 121(6) provides that the European Parliament and the Council 
may,  acting  by  means  of  regulations  in  accordance  with  the  ordinary  legislative  procedure, 
adopt detailed rules for the multilateral surveillance of Member States.  

Articles  136  and  121(6)  TFEU  have  been  used  as  the  legal  basis  for  Regulation  (EU)  No 
472/2013, which would be amended by the current proposal.  

• 

Subsidiarity (for non-exclusive competence)  

The  economic  and  financial  stability  of  the  euro  area  has  a  Union  dimension,  as  the 
implications  of  macroeconomic  imbalances  and  financial  distress  in  one  Member  State  can 
have  consequences  for  the  entire  euro  area.  Given  the  interconnectedness  of  the  European 

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economy,  Member  States  acting  alone  would  not  be  able  to  adequately  address  the 
complexities and spill-over effects of economic instability. Furthermore, the objectives of the 
amendments,  namely,  to  ensure  consistency  with  the  reformed  EU  economic  governance 
framework  and  streamline  that  framework,  cannot  be  achieved  at  the  level  of  the  Member 
States as they require changes to EU legislation. The proposal is therefore in conformity with 
the subsidiarity principle set out in Article 5 of the Treaty on European Union (TEU).  

• 

Proportionality 

The proposal respects the proportionality principle set out in Article 5 of the TEU, as it aims 
to  update  and  refine  the  existing  framework  for  enhanced  surveillance,  macroeconomic 
adjustment programmes, and post-programme surveillance, while ensuring that the proposed 
measures  are  limited  to  what  is  necessary  to  achieve  these  objectives.  The  policy  choices 
outlined in the proposal, such as clarifying the objectives of post-programme surveillance and 
making  enhanced  surveillance  more  reactive  to  risks,  are  designed  to  address  specific 
deficiencies and limitations identified in the current framework. These changes are necessary 
to  achieve the objectives of preventing and correcting macroeconomic imbalances,  ensuring 
the  financial  stability  of  the  euro  area,  and  promoting  economic  convergence.  The  proposal 
does  not  go  beyond  what  is  necessary  to  achieve  the  consistency  of  the  EU  economic 
governance  framework  and  the  simplification  of  that  framework,  as  it  builds  upon  existing 
structures and processes, and introduces targeted adjustments to address specific challenges, 
such  as  the  lack  of  clear  objectives  for  post-programme  surveillance  and  the  need  for  more 
differentiated surveillance regimes.  

• 

Choice of the instrument 

Article  121(6)  TFEU  provides  for  the  adoption  of  regulations.  Therefore,  a  regulation 
amending Regulation (EU) No 472/2013 is the appropriate legal instrument.  

3. 

• 

RESULTS 
CONSULTATIONS AND IMPACT ASSESSMENTS 

EX-POST 

EVALUATIONS, 

OF 

STAKEHOLDER 

Ex-post evaluations/fitness checks of existing legislation 

Backward looking assessments of the EU economic governance framework, also comprising 
an  assessment  of  Regulation  (EU)  472/2013,  were  published  in  February  20202  and 
November 20223. The Commission Communication of February 2020 was accompanied by a 
Commission Staff Working Document4.  

The Commission's February 2020 communication found that the framework for surveillance 
of  Member  States  experiencing,  or  threatened  with,  serious  difficulties  with  respect  to  their 

2 

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Communication COM(2020) 55 final of 5 February 2020 from the Commission ‘Economic governance 
review,  Report  on  the  application  of  Regulations  (EU)  No  1173/2011,  1174/2011,  1175/2011, 
1176/2011,  1177/2011,  472/2013  and  473/2013  and  on  the  suitability  of  Council  Directive 
2011/85/EU’. 
Communication on orientations for a reform of the EU economic governance framework, COM(2022) 
583 final. 
SWD(2020) 210 final. 

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financial  stability  had  led  to  a  number  of  improvements  and  generally  worked  well. 
Nonetheless,  the  importance  of  retaining  adequate  national  ownership  of  programmes  was 
highlighted, as well as that issues of transparency and accountability also persist. In particular, 
the Commission Staff Working Document found that Regulation (EU) No 472/2013 allowed 
to preserve the financial stability of the euro area, notably by establishing procedures related 
to macroeconomic adjustment programmes. It also found that Regulation (EU) No 472/2013 
contributed to a closer coordination of economic policies and a sustained convergence of euro 
area  Member  States  by  ensuring  consistency  between  the  normal  surveillance  cycle  of  the 
European Semester and the strengthened surveillance under Regulation (EU) No 472/2013. In 
its  communication  of  November  2022,  the  Commission  suggested  to  make  changes  to  the 
application  of  post-programme  surveillance,  by  focusing  the  scope  of  surveillance  on  (i) 
assessing repayment capacity through considering the economic, fiscal and financial situation; 
(ii)  monitoring  the  implementation  of  unfinished  reforms  that  begun  under  the  adjustment 
programme;  and  (iii)  assessing  whether  corrective  measures  are  needed  in  the  context  of 
concerns for repayment capacity or continued market access. It was also suggested to link the 
intensity of post-programme surveillance with the change in focus and with the assessment of 
risks. 

The  European  Court  of  Auditors,  in  its  Special  Report  No  18/2021,  found  that  while  post-
programme  surveillance  was  an  appropriate  tool,  its  efficiency  was  hampered  by  unclear 
objectives  and  insufficient  streamlining  and  focus  on  implementation.  This  report  also 
highlighted  the  need  for  a  clearer  focus  and  objectives  for  post-programme  surveillance,  as 
well  as  a  reduction  in  administrative  burden  and  overlaps  with  other  economic  surveillance 
processes, such as the European Semester.  

• 

Stakeholder consultations 

Since the adoption of Regulation (EU) No 472/2013, in 2021, the European Court of Auditors 
issued its Special Report 18/2021 on the Commission’s surveillance of Member States exiting 
a  macroeconomic  adjustment  programme.  This  report  recommended  streamlining  and 
improvements to  the scope and  procedure of post-programme surveillance in  order to  avoid 
duplications of reporting and to limit administrative burden on Member State’s authorities.   

Discussions have taken place between the Commission and Member States in the Economic 
and  Financial  Committee  (EFC)  and  the  Eurogroup  Working  Group  (EWG)  on  the  main 
elements of amendments to Regulation (EU)  No  472/2013, where Member States expressed 
an  openness  to  examine  the  proposals  for  simplification  that  would  be  put  forward  by  the 
Commission.  Furthermore,  a  discussion  took  place  with  the  ECON  committee  of  the 
European Parliament, which emphasised the objectives of the simplification package, namely, 
to  provide  legal  clarity  and  targeted  simplification,  and  sketched  out  the  main  elements  of 
amendments  to  Regulation  (EU)  No  472/2013,  similar  to  the  information  provided  to  the 
Member States in the respective committees.  

• 

Collection and use of expertise 

N/A 

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• 

Impact assessment 

This  proposal  does  not  create  a  new  instrument  but  amends  existing  legislation  to  ensure 
consistency  of  the  economic  and  budgetary  surveillance  of  Member  States  in  the  euro  area 
experiencing  or  threatened  with  serious  difficulties  with  respect  to  their  financial  stability 
with other elements of the reformed EU economic governance framework. The proposal also 
aims  to  simplify  existing  procedures  and  to  reduce  the  reporting  requirements  for  Member 
States. The proposed amendments focus on targeted changes to the existing Regulation (EU) 
No  472/2013.  As  stated  above  in  the  section  dedicated  to  compliance  with  the  principle  of 
subsidiarity,  there  are  no  other  options  for  eliminating  these  inconsistencies  between  this 
regulation  and  other  elements  of  the  framework.  For  these  reasons,  no  formal  impact 
assessment was carried out. 

• 

Regulatory fitness and simplification 

N/A 

• 

Fundamental rights 

The proposal does not have consequences on fundamental rights. 

4. 

BUDGETARY IMPLICATIONS 

The proposal does not have implications for the EU budget. 

5. 

• 

OTHER ELEMENTS 

Implementation plans and monitoring, evaluation and reporting arrangements 

The  proposed  amendments  to  Regulation  (EU)  No  472/2013  do  not  require  measures  to 
facilitate their implementation and do not pose implementation challenges for Member States. 

Article  19  of  Regulation  (EU)  No  472/2013  requires  that  the  Commission  produce  a  report 
every five years on the application of the regulation, reviewing the following elements: (1) the 
effectiveness of the regulation in promoting its objectives; (2) the progress in ensuring closer 
coordination of economic policies and sustained convergence of economic performance of the 
Member States; (3) the  contribution  of the  regulation to  achieving sustainable and inclusive 
growth  and  social  and  economic  resilience.  The  report  of  the  Commission  should  be 
accompanied, where appropriate, by a proposal to amend the regulation. 

• 

Explanatory documents (for directives) 

N/A 

• 

Detailed explanation of the specific provisions of the proposal 

The  proposal  makes  targeted  changes  to  Regulation  (EU)  No  472/2013.  They  consist  in 
eliminating inconsistencies with the pieces of legislation that resulted from the 2024 reform of 
the EU  economic  governance framework, and institutional developments that have occurred 
since 2013, as well as in simplifying and clarifying elements in line with the Commission’s 
simplification agenda aimed at reducing regulatory burdens and simplifying EU laws to make 
their implementation easier. 

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Inconsistencies in Regulation (EU) No 472/2013 largely concern outdated references to other 
acts and financial assistance frameworks that are no longer applicable, including as a result of 
the  2024  reform  of  the  EU  economic  governance  framework,  requiring  amendments  to 
Articles  1,  2,  3,  5,  6,  7,  10  and  12.  More  specifically:  (i)  a  number  of  cross-references  to 
former Regulation (EU) No 1466/97 and Regulation (EU) No 1467/97 became outdated and 
are  proposed  to  be  updated  to  reflect  the  2024  reform  of  the  EU  economic  governance 
framework  which  consisted  in  repealing  Regulation  (EU)  1466/97  and  replacing  it  with 
Regulation  (EU)  2024/1263,  and  in  amending  Regulation  (EU)  No  1467/97;  (ii)  outdated 
references  to  Stability  and  National  Reform  Programmes  of  Member  States  have  been 
removed,  as  they  have  been  merged  into  national  medium-term  fiscal-structural  plans 
following  the  2024  reform;  (iii)  outdated  references  to  the  exemption  of  Member  States 
subject  to  a  macroeconomic  adjustment  programme  under  Article  7  of  Regulation  (EU)  No 
472/2013  from  submitting  a  stability  programme  under  Article  3  of  Regulation  (EU)  No 
1466/97  have  been  replaced  by  references  to  national-medium  term  fiscal  structural  plans, 
where  the  obligations  outlined  in  the  national  medium-term  fiscal-structural  plan  should  be 
integrated into the design of the macroeconomic adjustment programme; and iv) Article 12 on 
the exemption of monitoring and assessment of the European Semester for economic policy 
coordination when a Member State is subject to a macroeconomic adjustment programme is 
removed  as  this  exemption  became  obsolete  following  the  reform  to  the  EU  economic 
governance framework. Additionally, references to the EFSF have been removed with respect 
to future financial assistance obtained by Member States from this Facility, as it is no longer 
active as a lending institution for new financial assistance programmes. 

The proposed amendments to Regulation (EU) No 472/2013 align its provisions with the new 
division of tasks introduced by Council Regulation (EU) 1024/2013, which conferred specific 
prudential  supervision  responsibilities  to  the  ECB.  To  ensure  consistency  with  this  new 
framework, the proposed amendments  to  Article  3 make a reference to  this new division  of 
tasks, particularly when a Member State under enhanced surveillance is required to carry out 
stress  test  exercises  or  sensitivity  analyses  to  assess  the  resilience  of  the  financial  sector  or 
submit regular assessments of its supervisory capacities over the financial sector. 

Furthermore,  the  proposed  amendments  to  Regulation  (EU)  No  472/2013  aim  at  addressing 
the concern that the current design of enhanced surveillance may deter Member States from 
seeking precautionary financial assistance when needed. To strike a balance between effective 
surveillance  and  the  need  to  avoid  disincentivising  Member  States  to  seek  precautionary 
assistance,  when  necessary,  the  amendments  aim  to  clarify  the  circumstances  under  which 
enhanced surveillance applies to Member States receiving precautionary financial assistance. 
Specifically, Articles 2 and 3 propose that enhanced surveillance should only be automatically 
triggered when a Member State receives financial assistance that requires the adoption of new 
policy  measures,  regardless  of  whether  the  assistance  is  provided  by  other  Member  States, 
third  countries,  the  EFSM,  ESM,  or  international  financial  institutions  like  the  IMF.  This 
means  that  Member  States  receiving  financial  assistance  with  conditions,  such  as  an  ESM 
Enhanced  Conditions  Credit  Line  (ECCL),  as  established  in  Article  14  of  the  Treaty 
establishing  the  European  Stability  Mechanism, should  be  subject  to  enhanced  surveillance, 
even if the assistance has not yet been drawn. For new ESM precautionary financial assistance 
instruments,  the  Commission  should  assess  on  a  case-by-case  basis  whether  the  receipt  of 

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such  assistance  warrants  enhanced  surveillance,  ensuring  a  more  nuanced  and  targeted 
approach  to  surveillance.  The  additional  ability  for  the  Commission  to  voluntarily  subject 
Member States to enhance surveillance, if warranted, remains. 

The  proposed  changes  to  Article  14  clarify  the  scope  and  objective  of  post-programme 
surveillance,  where  post-programme  surveillance  would  focus  on  monitoring  and  assessing 
the repayment capacity  of Member States that have received financial assistance, as well as 
the  implementation  of  relevant  reforms  not  already  covered  by  the  national  medium-term 
fiscal-structural plan. The surveillance will also identify the need for corrective measures to 
mitigate  any  risks  to  repayment.  By  clarifying  the  objectives  and  focus  of  post-programme 
surveillance, the amended  regulation  provides  a  simplified and proportionate framework for 
the surveillance of Member States exiting a macroeconomic adjustment programme. 

Furthermore, the amendments introduce a tiered system of post-programme surveillance that 
differentiates  the  level  of  scrutiny  according  to  repayment  risk  and  the  need  for  corrective 
measures.  This  enables  a  more  reactive  and  targeted  approach  to  post-programme 
surveillance.  A  key  feature  of  this  system  is  a  specific  assessment  of  the  Member  State's 
capacity  to  repay  the  financial  assistance  received,  which  will  be  carried  out  by  the 
Commission five years after the application of post-programme surveillance. This assessment 
will  consider  factors  such  as  debt  sustainability,  debt-to-GDP  ratio,  excessive  deficit 
procedures,  borrowing  conditions  and  financial  stability  conditions.  If  the  Commission 
concludes that there are no material risks to repayment and after the Economic and Financial 
Committee has delivered an opinion, it would be possible to suspend regular assessments for a 
period  of  five  years,  subject  to  certain  conditions.  This  facilitates  a  more  effective  use  of 
resources  in  supporting  the  Member  State's  efforts  to  exit  a  macroeconomic  adjustment 
programme  and  promote  a  more  efficient  and  targeted  application  of  post-programme 
surveillance, in line with the Commission’s overall simplification efforts. 

A new Article 18a provides for the establishment of administrative arrangements between the 
Commission  and  relevant  providers  of  financial  assistance  to  euro  area  Member  States, 
including the ESM. The purpose of these arrangements is to facilitate close cooperation and 
information-sharing  between  the  Commission  and  these  providers,  thereby  ensuring  a 
coordinated and cohesive approach to economic surveillance and financial assistance. 

The  application  of  Regulation  (EU)  No  472/2013  to  Member  States  that  were  in  receipt  of 
financial assistance on 30 May 2013 (Article 16) and the transitional provisions (Article 17) 
are proposed to be deleted as they are outdated.  

Finaly, the future reviews of the functioning of Regulation (EU) No 472/2013 were aligned to 
the reviews on the functioning of Regulation (EU) 2024/1263 (Article 19). 

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2025/0312 (COD) 

Proposal for a 

REGULATION OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL 

amending Regulation (EU) No 472/2013 as regards the economic and budgetary 
surveillance of Member States in the euro area experiencing or threatened with serious 
difficulties with respect to their financial stability 

THE EUROPEAN PARLIAMENT AND THE COUNCIL OF THE EUROPEAN UNION, 

Having  regard  to  the  Treaty  on  the  Functioning  of  the  European  Union,  and  in  particular 
Article 136 in combination with Article 121(6) thereof, 

Having regard to the proposal from the European Commission, 

After transmission of the draft legislative act to the national parliaments, 

Having regard to the opinion of the European Central Bank5,  

Acting in accordance with the ordinary legislative procedure, 

Whereas: 

(1) 

(2) 

Regulation  (EU)  No  472/2013  of  the  European  Parliament  and  of  the  Council6  lays 
down  provisions  for  strengthening  the  economic  and  budgetary  surveillance  of 
Member States whose currency is the euro, where those Member States (a) experience 
or are threatened with serious difficulties with respect to their financial stability or to 
the sustainability of their public finances, leading to potential adverse spill-over effects 
on other Member States in the euro area; or (b) request or receive financial assistance. 

The  Union’s  economic  governance  framework  was  reformed  in  2024.  The  reform 
aimed to facilitate effective economic surveillance, anchored in a common framework 
that ensures equal treatment and multilateral policy coordination. The objectives of the 
reform  were  to  further  promote  sound  and  sustainable  public  finances,  sound  and 
inclusive  growth  and  resilience  through  reforms  and  investment,  prevent  the 
occurrence of excessive deficits, and strengthen national ownership. To achieve those 
objectives, the reform introduced new concepts and made changes to the structure of 
the Union’s economic governance framework. The reform was implemented with the 
adoption  of  Regulation  (EU)  2024/1263  of  the  European  Parliament  and  of  the 
Council7,  Council  Regulation  (EU)  2024/12648  and  Council  Directive  (EU) 
2024/12659. 

5 
6 

7 

OJ C , , p. . 
Regulation (EU) No 472/2013 of the European Parliament and of the Council of 21 May 2013 on the 
strengthening of economic and budgetary surveillance of Member States in the euro area experiencing 
or threatened with serious difficulties with respect to their financial stability (OJ L 140, 27.5.2013, p. 1, 
ELI: http://data.europa.eu/eli/reg/2013/472/oj). 
Regulation  (EU)  2024/1263  of  the  European  Parliament  and  of  the  Council  of  29  April  2024  on  the 
effective  coordination  of  economic  policies  and  on  multilateral  budgetary  surveillance  and  repealing 

EN 

9 

  EN 

 
 
(3) 

(4) 

(5) 

(6) 

(7) 

8 

9 

10 

In  its  Communication  of  11  February  2025  entitled  ‘A  simpler  and  faster  Europe: 
Communication  on  implementation  and  simplification’10,  the  Commission  set  out  a 
vision  for  an  implementation  and  simplification  agenda  that  aims  to  boost 
competitiveness and safeguard economic, social and environmental goals by reducing 
regulatory  burdens  and  simplifying  Union  law  thereby  making  its  implementation 
easier. 

In the context of the 2024 reform of the Union’s economic governance framework and 
with the view to simplifying, consolidating and codifying legislation, amendments to 
Regulation (EU) No 472/2013 are necessary to ensure consistency with other acts of 
the  economic  governance  framework  and  contribute  to  its  streamlining  and 
simplification. 

The  national  medium-term  fiscal-structural  plans,  introduced  by  Regulation  (EU) 
2024/1263,  are  the  cornerstone  of  the  2024  reform.  They  replaced  the  Stability  and 
Convergence  Programmes  and  the  National  Reform  Programmes,  thereby  bringing 
together the fiscal, reform and investment commitments of each Member State within 
a common framework. Regulation (EU) No 472/2013 should be amended to take into 
account  the  introduction  of  the  national  medium-term  fiscal-structural  plans  in  the 
common  framework.  In  particular,  the  obligations  arising  from  a  national  medium-
term  fiscal-structural  plan  should  be  duly  taken  into  account  in  the  design  of  a 
macroeconomic  adjustment  programme,  with  a  view  to  ensuring  a  coherent  and 
effective  approach  to  addressing  the  Member  State's  fiscal  and  macroeconomic 
challenges. Furthermore, in accordance with Article 32 of Regulation (EU) 2024/1263, 
where  a  Member  State  is  subject  to  a  macroeconomic  adjustment  programme,  it 
should not  be required to  submit a national  medium-term  fiscal-structural  plan or  an 
annual progress report. 

The European Financial Stability Facility (‘EFSF’) was created as  a temporary crisis 
resolution  mechanism  by  euro  area  countries  in  June  2010.  As  of  1  July  2013,  the 
EFSF  may  no  longer  engage  in  new  financing  programmes.  Regulation  (EU)  No 
472/2013 should be amended to take that into account. 

Experience  has  shown  that  the  current  design  of  enhanced  surveillance  may  have  a 
deterrent effect on Member States seeking precautionary financial assistance and may 
result  in  the  application  of  additional  surveillance  when  not  warranted.  In  order  to 
strike  a  balance  between  the  need  for  effective  surveillance  and  the  need  to  avoid 
disincentivising  Member  States  to  seek  precautionary  assistance  when  necessary, 
Regulation (EU) No 472/2013 should be amended to clarify the circumstances under 
which  enhanced  surveillance  applies  when  a  Member  States  is  in  receipt  of 
precautionary financial assistance. 

L, 

(OJ 

1466/97 

30.4.2024, 

Regulation 

2024/1263, 

(EC)  No 

Council 
http://data.europa.eu/eli/reg/2024/1263/oj).  
Council  Regulation  (EU)  2024/1264  of  29  April  2024  amending  Regulation  (EC)  No  1467/97  on 
speeding  up  and  clarifying  the  implementation  of  the  excessive  deficit  procedure  (OJ  L,  2024/1264, 
30.4.2024, ELI: http://data.europa.eu/eli/reg/2024/1264/oj). 
Council Directive (EU) 2024/1265 of 29 April 2024 amending Directive 2011/85/EU on requirements 
for  budgetary 
(OJ  L,  2024/1265,  30.4.2024,  ELI: 
http://data.europa.eu/eli/dir/2024/1265/oj). 
Communication  from  the  Commission  to  the  European  Parliament,  the  Council,  the  European 
Economic and Social Committee and the Committee of the Regions of 11 February 2025, ‘A simpler 
and faster Europe: Communication on implementation and simplification’, COM(2025) 47 final. 

the  Member  States 

frameworks  of 

ELI: 

EN 

10 

  EN 

 
(8) 

(9) 

A Member State that receives financial assistance on a precautionary basis from one or 
several  other  Member  States  or  third  countries,  the  European  Financial  Stabilisation 
Mechanism (‘EFSM’), the European Stability Mechanism (‘ESM’) or another relevant 
international  financial  institution,  such  as  the  International  Monetary  Fund  (‘IMF’), 
which  requires  the  adoption  of  new  policy  measures,  should  be  subject  to  enhanced 
surveillance under Regulation (EU) No 472/2013, including if that financial assistance 
is not yet drawn. An ESM Enhanced Conditions Credit Line (‘ECCL’) requires such 
new policy measures and, as such, a Member State receiving such financial assistance 
on  a  precautionary  basis  should  be  subject  to  enhanced  surveillance.  With  regard  to 
new  ESM  precautionary  financial  assistance  instruments,  the  Commission  should 
assess  on  a  case-by-case  basis  whether  there  are  such  new  policy  measures  and,  as 
such, whether the receipt of such financial assistance by a Member State warrants the 
application of enhanced surveillance under Regulation (EU) No 472/2013. 
Council  Regulation  (EU)  1024/201311  conferred  specific  tasks  on  the  European 
Central  Bank  (‘ECB’)  concerning  policies  relating  to  the  prudential  supervision  of 
credit institutions.  In order to respect the division of responsibilities between the ECB 
and  national  competent  authorities  of  participating  Member  States  as  established  by 
that  Regulation,  the  provisions  in  Regulation  (EU)  No  472/2013  concerning 
information  on  or  supervisory  measures  regarding  the  financial  sector  should  be 
clarified to respect that division of responsibilities.  

(10)  Regulation (EU) No 472/2013 provides that a Member State exiting a macroeconomic 
adjustment  programme  is  subject  to  post-programme  surveillance  until  75%  of  the 
received financial assistance is repaid. The European Court of Auditors, in its Special 
Report No 18/202112, has identified certain shortcomings in the effectiveness of post-
programme  surveillance,  including  a  lack  of  clear  focus  and  objectives,  as  well  as 
overlaps with other economic surveillance processes, such as the European Semester.  

(11) 

In  light  of  those  findings,  it  is  necessary  to  amend  Regulation  (EU)  No  472/2013  to 
clarify the objective and scope of post-programme surveillance, in order to increase its 
coherence  with  the  European  economic  governance  framework  and  avoid  a 
duplication  of  reporting  requirements.  Specifically,  post-programme  surveillance 
should  focus  on  monitoring  and  assessing  the  repayment  capacity  of  the  concerned 
Member  State  regarding  the  financial  assistance  received,  taking  into  account  the 
economic, budgetary and financial condition of that Member State. That surveillance 
should  also  cover  the  implementation  of  certain  reforms,  to  the  extent  that  those  are 
not  already  subject  to  monitoring  under  the  national  medium-term  fiscal-structural 
plan.  Finally,  post-programme  surveillance  should  identify  the  need  for  corrective 
measures to mitigate risks to the repayment of the financial assistance received.  

(12) 

It is also necessary to amend Regulation (EU) No 472/2013 to make post-programme 
surveillance more proportionate to risks, by introducing a tiered system of surveillance 
that  differentiates  the  level  of  scrutiny  according  to  repayment  risk  of  the  financial 
assistance received and the need for corrective measures. In particular, five years after 
the application of post-programme surveillance, the Commission should be allowed to 
carry out a specific assessment of the Member State's capacity to repay the financial 

11 

12 

Council Regulation (EU) No 1024/2013 of 15 October 2013 conferring specific tasks on the European 
Central Bank concerning policies relating to the prudential supervision of credit institutions (OJ L 287, 
29.10.2013, p. 63, ELI: http://data.europa.eu/eli/reg/2013/1024/oj). 
European  Court  of  Auditors  Special  Report  18/2021:  Commission’s  surveillance  of  Member  States 
exiting a macroeconomic adjustment programme: an appropriate tool in need of streamlining. 

EN 

11 

  EN 

 
assistance received. If the Commission concludes that there are no material risks to the 
Member  State's  capacity  to  repay  the  financial  assistance  over  the  medium-term,  it 
should  be  possible  to  suspend  the  regular  assessments  for  a  period  of  five  years, 
subject to no material change of the circumstances. Before concluding its assessment, 
the Commission should ask the Economic and Financial Committee for its opinion.  

(13)  To  ensure  close  cooperation  with  the  ESM  and  other  relevant  international  financial 
institutions  when  implementing  Regulation  (EU)  No  472/2013,  the  Commission 
should continue to seek to establish the necessary administrative arrangements. Such 
arrangements help to ensure that the activities of the different institutions and bodies 
involved  in  the  provision  of  financial  assistance  are  coordinated  and  mutually 
reinforcing. 

(14)  Regulation (EU) No 472/2013 should therefore be amended accordingly, 

HAVE ADOPTED THIS REGULATION: 

Regulation (EU) No 472/2013 is amended as follows: 

(1) 

in Article 1(1), point (b) is replaced by the following:  

Article 1 

‘(b) request or receive financial assistance from one or several other Member States or 
third  countries,  the  European  Financial  Stabilisation  Mechanism  (EFSM),  the 
European  Stability  Mechanism  (ESM),  or  another  relevant  international  financial 
institution such as the International Monetary Fund (IMF).’; 

(2) 

Article 2 is amended as follows: 

(a) 

in paragraph 3, the first subparagraph is replaced by the following: 

‘Where a Member State is in receipt of financial assistance on a precautionary basis 
from one or several other Member States or third countries, the EFSM, the ESM, or 
another relevant  international financial  institution such as the IMF that requires the 
adoption of new policy measures, the Commission shall subject that Member State to 
enhanced surveillance.’; 

(b)  paragraphs 4 and 5 are deleted; 

(3) 

Article 3 is amended as follows: 

(a) 

in paragraph 1, the first subparagraph is replaced by the following: 

‘A  Member  State  subject  to  enhanced  surveillance  shall,  after  consulting,  and  in 
cooperation  with,  the  Commission,  acting  in  liaison  with  the  ECB,  the  ESAs,  the 
ESRB  and,  where  appropriate,  the  IMF,  adopt  measures  aimed  at  addressing  the 
sources or potential sources of difficulties. In so doing, the Member State shall take 
into account any recommendations addressed to it under Regulation (EU) 2024/1263 
of  the  European  Parliament  and  of  the  Council*,  Council  Regulation  (EC)  No 
1467/97 of 7 July 1997**, or Regulation (EU) No 1176/2011. 

______________ 

* Regulation (EU) 2024/1263 of the European Parliament and of the Council of 29 
April  2024  on  the  effective  coordination  of  economic  policies  and  on  multilateral 

EN 

12 

  EN 

 
budgetary  surveillance  and  repealing  Council  Regulation  (EC)  No  1466/97  (OJ  L, 
2024/1263, 30.4.2024, ELI: http://data.europa.eu/eli/reg/2024/1263/oj). 

**  Council  Regulation  (EC)  No  1467/97  of  7  July  1997  on  speeding  up  and 
clarifying the implementation of the excessive deficit procedure (OJ L 209, 2.8.1997, 
p. 6, ELI: http://data.europa.eu/eli/reg/1997/1467/oj).’; 

(b)  paragraph 2 is deleted; 

(c) 

paragraph 3 is replaced by the following: 

‘3.  On  a  request  from  the  Commission,  a  Member  State  subject  to  enhanced 
surveillance shall:  

(a) 

(b) 

(c) 

(d) 

communicate  to  the  Commission,  the  ECB,  and,  where  appropriate,  to 
the  relevant  ESAs,  in  accordance  with  Article  35  of  Regulations  (EU) 
No 1093/2010,  (EU)  No 1094/2010  and  (EU)  No 1095/2010,  at  the 
requested  frequency,  disaggregated  information  on  its  financial  system, 
including  the  results  of  any  stress  test  exercises  or  sensitivity  analyses 
carried out under point (b) of this paragraph;  

carry out, under the supervision  of the  ECB in  its supervisory capacity, 
or, where appropriate, under the supervision of the relevant ESAs, stress 
test exercises or sensitivity analyses, as necessary, to assess the resilience 
of the financial sector to various macroeconomic and financial shocks, as 
specified  by  the  Commission  and  the  ECB,  in  liaison  with  the  relevant 
ESAs and with the ESRB;  

be required to submit to regular assessments of its supervisory capacities 
over  the  financial  sector  in  the  framework  of  a  specific  peer  review 
carried out by the ECB, in its supervisory capacity, or, where appropriate, 
by the relevant ESAs;  

communicate  to  the  Commission  any  information  needed  for  the 
monitoring of macroeconomic imbalances in accordance with Regulation 
(EU) No 1176/2011; 

(e) 

communicate  to  the  Commission  any  information  needed  for  budgetary 
surveillance purposes. 

The application of the first subparagraph, points (b) and (c), of this paragraph 
shall respect the division of responsibilities established by Article 6 of Council 
Regulation (EU) No 1024/2013*. 

Where  relevant,  the  ECB,  in  its  supervisory  capacity  in  accordance  with 
Regulation (EU) No 1024/2013, and the relevant ESAs shall prepare, in liaison 
with  the  ESRB,  an  assessment  of  the  potential  vulnerabilities  of  the  financial 
system  and shall submit that assessment to  the  Commission,  at  the frequency 
indicated by the latter, and to the ECB.  

The Commission, the ECB and the relevant ESAs shall treat any disaggregated 
information communicated to them as confidential. 

______________ 

*  Council  Regulation  (EU)  No  1024/2013  of  15  October  2013  conferring 
specific tasks on the European Central Bank concerning policies relating to the 

EN 

13 

  EN 

prudential supervision of credit institutions (OJ L 287, 29.10.2013, p. 6, ELI: 
http://data.europa.eu/eli/reg/2013/1024/oj).’; 

(d)  paragraph 4 is deleted; 

(e) 

in paragraph 5, the second subparagraph is replaced by the following: 

(a) 

‘As  a  rule,  every  quarter,  the  Commission  shall  communicate  its 
assessment to the competent committee of the European Parliament and 
to  the  EFC.  In  that  assessment,  it  shall  examine,  in  particular,  whether 
further measures are needed.’; 

(4) 

in Article 5, the first subparagraph is replaced by the following: 

‘A Member State intending to request financial assistance from one or several other 
Member  States  or  third  countries,  the  ESM,  or  another  relevant  international 
financial institution, such as the IMF, shall immediately inform the President of  the 
Eurogroup  Working  Group,  the  member  of  the  Commission  responsible  for 
Economic and Monetary Affairs and the President of the ECB of its intention.’; 

(5) 

in Article 6, the first and second subparagraphs are replaced by the following: 

‘Where a Member State requests financial assistance from the EFSM or the ESM, the 
Commission shall assess, in liaison with the ECB and, where possible, with the IMF, 
the sustainability of that Member State's government debt and its actual or potential 
financing  needs.  The  Commission  shall  submit  that  assessment  to  the  Eurogroup 
Working Group where the financial assistance is to be granted under the ESM, and to 
the EFC where the financial assistance is to be granted under the EFSM.  

The  assessment  of  the  sustainability  of  the  government  debt  shall  be  based  on  the 
most  likely  macroeconomic  scenario  or  a  more  prudent  scenario  and  budgetary 
forecasts  using  the  most  up-to-date  information  and  taking  proper  account  of  the 
outcome  of  the  reporting  referred  to  in  Article  3(3).  The  Commission  shall  also 
assess the impact of macroeconomic and financial shocks and adverse developments 
on the sustainability of government debt.’ 

(6) 

Article 7 is amended as follows: 

(a) 

paragraph 1 is amended as follows:  

(i)the first subparagraph is replaced by the following: 

‘Where a Member State requests financial assistance from one or several other 
Member  States  or  third  countries,  the  EFSM,  the  ESM  or  the  IMF,  it  shall 
prepare,  in  agreement  with  the  Commission,  acting  in  liaison  with  the  ECB 
and,  where  appropriate,  with  the  IMF,  a  draft  macroeconomic  adjustment 
programme, which shall include annual budgetary targets.  In accordance with 
Article  32(2)  of  Regulation  (EU)  2024/1263,  where  a  Member  State  has  an 
active  national  medium-term  fiscal-structural  plan,  and  that  Member  State 
becomes  subject  to  a  macroeconomic  adjustment  programme,  that  national 
medium-term fiscal-structural plan shall be taken into account in the design of 
the macroeconomic adjustment programme.’;  

(ii) the fourth subparagraph is replaced by the following: 

‘The  draft  macroeconomic  adjustment  programme  shall  take  into  account  the 
practice and institutions for wage formation.’;  

(b) 

in paragraph 2, the second subparagraph is replaced by the following: 

EN 

14 

  EN 

‘The Commission shall ensure that the memorandum of understanding signed by the 
Commission  on  behalf  of  the  ESM  is  fully  consistent  with  the  macroeconomic 
adjustment programme approved by the Council.’; 

(c) 

in paragraph 4, the second subparagraph is replaced by the following: 

‘Every  three  months,  the  Commission  shall  inform  the  EFC  of  such  progress.  The 
Member  State  concerned  shall  fully  cooperate  with  the  Commission  and  with  the 
ECB.  It  shall,  in  particular,  provide  the  Commission  and  the  ECB  with  all  the 
information  that  they  consider  to  be  necessary  for  the  monitoring  of  the 
implementation  of  the  macroeconomic  adjustment  programme  in  accordance  with 
Article 3(3).’;  

(d) 

in  paragraph  12,  the  third  and  fourth  subparagraphs  are  replaced  by  the 
following: 

‘Concerning  those  instruments,  the  Council,  acting  on  a  recommendation  from  the 
Commission, shall, by a decision addressed to the Member State concerned, approve 
the main policy requirements which the ESM plans to  include in  the conditionality 
for its financial support, to the extent that the content of those measures falls within 
the competence of the Union as laid down by the Treaties.  

The Commission shall ensure that the memorandum of understanding signed by the 
Commission on behalf of the ESM is fully consistent with such a Council decision.’; 

(7) 

Article 10 is amended as follows: 

(a) 

paragraph 1 is deleted;  

(b)  paragraph 2 is amended as follows: 

(i)point (a) is replaced by the following: 

‘(a)  it  shall  be  exempt  from  submitting,  as  appropriate,  the  reports  under 
Article 3(5) and Article 5(1a) of Regulation (EC) No 1467/97;’; 

(ii) point (c) is replaced by the following: 

‘(c)  with  regard  to  the  monitoring  provided  for  by  Article  7(4)  of  this 
Regulation, it shall be exempt from monitoring under Article 10(1) and Article 
10a  of  Regulation  (EC)  No 1467/97  and  monitoring  underlying  any  decision 
under Article 4(1) and Article 6(2) of that Regulation.’; 

(8) 

(9) 

Article 12 is deleted;  

Article 14 is amended as follows: 

(a) 

paragraph 1 is replaced by the following: 

‘1.   A  Member  State  shall  be  under  post-programme  surveillance  as  long  as  a 
minimum  of  75 %  of  the  financial  assistance  received  from  one  or  several  other 
Member States, the EFSM, the ESM or the EFSF has not been repaid. The Council, 
on a proposal from the Commission, may extend the duration of the post-programme 
surveillance  in  the  event  of  a  persistent  risk  to  the  capacity  of  the  Member  State 
concerned  to  repay  the  financial  assistance  received.  The  proposal  from  the 
Commission  shall  be  deemed  to  be  adopted  by  the  Council  unless  the  Council 
decides,  by  a  qualified  majority,  to  reject  it  within  10  days  of  the  Commission's 
adoption thereof.’; 

(b) 

the following paragraphs 1a and 1b are inserted:  

EN 

15 

  EN 

‘1a.  Whilst  a  Member  State  is  under  post-programme  surveillance  referred  to  in 
paragraph 1, the Commission shall monitor and assess all of the following:  

(a) 

the capacity of the Member State concerned to repay the financial 
assistance  received,  taking  into  account  its  economic,  budgetary, 
and financial situation;  

(b)  without prejudice to Article 22 of Regulation (EU) 2024/1263, the 
implementation  of  any  reforms  included  in  the  macroeconomic 
adjustment  programme  or  the  Council  decision  referred  to  in 
Article 7(12) of this Regulation;  

(c) 

the  need  for  corrective  measures  to  mitigate  risks  of  the  Member 
State concerned to repay the financial assistance received. 

1b. As a rule, the Commission, in liaison with the ECB, shall communicate every six 
months, its assessment referred to in paragraph 1a to the competent committee of the 
European  Parliament,  to  the  EFC  and  to  the  parliament  of  the  Member  State 
concerned.’; 

(c) 

paragraph 2 is replaced by the following: 

‘2.  On  a  request  from  the  Commission,  a  Member  State  under  post-programme 
surveillance shall comply with the requirements under Article 3(3).’; 

(d) 

the following paragraphs 2a and 2b are inserted:  

‘2a. Five years after the application of post-programme surveillance, the Commission 
may prepare a specific assessment on the capacity of the Member State concerned to 
repay the financial assistance received. In preparing that assessment, in addition to its 
analysis  of  the  economic,  budgetary  and  financial  situation,  including  of  the 
implementation of the national medium–term fiscal-structural plan, the Commission 
shall take into account all of the following circumstances:  

(a)  whether the general government debt-to-GDP ratio is above 90 %;  

(b)  whether the Council has decided on the basis of Article 126(6) of 

the TFEU that an excessive deficit exists;   

(c) 

the  Commission’s  debt  sustainability  analysis  of  that  Member 
State; 

(d) 

the borrowing conditions of that Member State; 

(e) 

the financial stability conditions in that Member State.  

The  Commission  shall  communicate  its  specific  assessment  to  the  EFC.  Following 
an opinion from the EFC, the Commission may suspend the assessments referred to 
in paragraph 1a for five years if it concludes that over the medium-term there are no 
material  risks to  the capacity of the Member State concerned to  repay the financial 
assistance received.   

The  Commission  shall  communicate  its  conclusions  on  the  suspension  of  the 
assessments referred to in paragraph 1a to the competent committee of the European 
Parliament, to the EFC and to the parliament of the Member State concerned.  

2b.  After  completing  the  procedure  set  out  in  paragraph  2a,  the  Commission  shall 
provide a new assessment under that paragraph in any of the following cases: 

(a) 

upon expiration of the suspension; 

EN 

16 

  EN 

(b) 

(c) 

if any of the circumstances referred to in paragraph 2a, point (a) or 
(b) change;   

if any of the circumstances referred in paragraph 2a, point (c), (d) 
or (e) materially worsen.’; 

(e) 

paragraph 3 is replaced by the following: 

‘3.   The Commission shall conduct, in liaison with the ECB,  review missions 
in  the  Member  State  under  post-programme  surveillance  as  warranted  for  the 
purposes of paragraphs 1a, 2a and 2b.’; 

(f) 

the following paragraph 3a is inserted:  

‘3a.  The  competent  committee  of  the  European  Parliament  may  offer  the 
opportunity  to  the  Member  State  concerned  to  participate  in  an  exchange  of 
views on the progress made under post-programme surveillance.’; 

(10) 

(11) 

Articles 16 and 17 are deleted;  

the following Article 18a is inserted: 

‘Article 18a  

Administrative arrangements with the ESM and other relevant financial 
institutions 

The  Commission  shall  seek  to  establish  the  necessary  administrative  arrangements 
with  the  ESM  and  other  relevant  international  financial  institutions  to  ensure  close 
cooperation when performing the activities provided for in this Regulation.’; 

(12) 

in Article 19, second paragraph, point (c) is replaced by the following:  

‘(c) the contribution of this Regulation to achieving sustainable and inclusive growth 
and social and economic resilience.’. 

This Regulation shall enter into force on the twentieth day following that of its publication in 
the Official Journal of the European Union. 

Article 2 

This Regulation shall be binding in its entirety and directly applicable in the Member States in 
accordance with the Treaties. 

Done at Brussels, 

For the European Parliament 
The President 

For the Council 
The President 

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LEGISLATIVE FINANCIAL AND DIGITAL STATEMENT 

1. 

1.1. 

1.2. 

1.3. 

FRAMEWORK OF THE PROPOSAL/INITIATIVE ................................................. 3 

Title of the proposal/initiative ...................................................................................... 3 

Policy area(s) concerned .............................................................................................. 3 

Objective(s) .................................................................................................................. 3 

1.3.1.  General objective(s) ..................................................................................................... 3 

1.3.2.  Specific objective(s) ..................................................................................................... 3 

1.3.3.  Expected result(s) and impact ...................................................................................... 3 

1.3.4. 

Indicators of performance ............................................................................................ 3 

1.4. 

1.5. 

The proposal/initiative relates to: ................................................................................. 4 

Grounds for the proposal/initiative .............................................................................. 4 

1.5.1.  Requirement(s) to be met in the short or long term including a detailed timeline for 

roll-out of the implementation of the initiative ............................................................ 4 

1.5.2.  Added value of EU involvement (it may result from different factors, e.g. 

coordination gains, legal certainty, greater effectiveness or complementarities). For 
the purposes of this section 'added value of EU involvement' is the value resulting 
from EU action, that is additional to the value that would have been otherwise 
created by Member States alone. ................................................................................. 4 

1.5.3.  Lessons learned from similar experiences in the past .................................................. 4 

1.5.4.  Compatibility with the multiannual financial framework and possible synergies with 
other appropriate instruments ....................................................................................... 5 

1.5.5.  Assessment of the different available financing options, including scope for 

redeployment ................................................................................................................ 5 

1.6. 

1.7. 

2. 

2.1. 

2.2. 

2.2.1. 

2.2.2. 

Duration of the proposal/initiative and of its financial impact .................................... 6 

Method(s) of budget implementation planned ............................................................. 6 

MANAGEMENT MEASURES................................................................................... 8 

Monitoring and reporting rules .................................................................................... 8 

Management and control system(s) ............................................................................. 8 

Justification of the budget implementation method(s), the funding implementation 
mechanism(s), the payment modalities and the control strategy proposed .................. 8 

Information concerning the risks identified and the internal control system(s) set up 
to mitigate them............................................................................................................ 8 

2.2.3.  Estimation and justification of the cost-effectiveness of the controls (ratio between 
the control costs and the value of the related funds managed), and assessment of the 
expected levels of risk of error (at payment & at closure) ........................................... 8 

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2.3. 

Measures to prevent fraud and irregularities ................................................................ 9 

3. 

3.1. 

ESTIMATED FINANCIAL IMPACT OF THE PROPOSAL/INITIATIVE ............ 10 

Heading(s) of the multiannual financial framework and expenditure budget line(s) 
affected ....................................................................................................................... 10 

3.2. 

Estimated financial impact of the proposal on appropriations ................................... 12 

3.2.1.  Summary of estimated impact on operational appropriations.................................... 12 

3.2.1.1.  Appropriations from voted budget ............................................................................. 12 

3.2.1.2.  Appropriations from external assigned revenues ....................................................... 17 

3.2.2.  Estimated output funded from operational appropriations......................................... 22 

3.2.3.  Summary of estimated impact on administrative appropriations ............................... 24 

3.2.3.1. Appropriations from voted budget .............................................................................. 24 

3.2.3.2.  Appropriations from external assigned revenues ....................................................... 24 

3.2.3.3.  Total appropriations ................................................................................................... 24 

3.2.4.  Estimated requirements of human resources.............................................................. 25 

3.2.4.1.  Financed from voted budget....................................................................................... 25 

3.2.4.2.  Financed from external assigned revenues ................................................................ 26 

3.2.4.3.  Total requirements of human resources ..................................................................... 26 

3.2.5.  Overview of estimated impact on digital technology-related investments ................ 28 

3.2.6.  Compatibility with the current multiannual financial framework.............................. 28 

3.2.7.  Third-party contributions ........................................................................................... 28 

3.3. 

Estimated impact on revenue ..................................................................................... 29 

4. 

4.1. 

4.2. 

4.3. 

4.4. 

4.5. 

DIGITAL DIMENSIONS .......................................................................................... 29 

Requirements of digital relevance .............................................................................. 30 

Data ............................................................................................................................ 30 

Digital solutions ......................................................................................................... 31 

Interoperability assessment ........................................................................................ 31 

Measures to support digital implementation .............................................................. 32 

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1. 

FRAMEWORK OF THE PROPOSAL/INITIATIVE  

1.1. 

Title of the proposal/initiative 

Proposal  for  a  Regulation  of  the  European  Parliament  and  of  the  Council  on 
amending Regulation (EU) No 472/2013.  

1.2. 

Policy area(s) concerned  

Strengthening of economic and budgetary surveillance of Member States in the euro 
area experiencing or threatened with serious difficulties with respect to their financial 
stability. 

1.3. 

Objective(s) 

1.3.1.  General objective(s) 

A  first  objective  of  the  proposal  is  to  align  the  legal  framework  established  by 
Regulation  (EU)  No  472/2013  with  the  reformed  EU  economic  governance 
framework  which  entered  into  force  on  30  April  2024,  repealing    Regulation  (EU) 
No  1466/97  (and  replacing  it  with  Regulation  (EU)  2024/1263)  and  amending 
Regulation (EU) No 1467/97, as well as to reflect the institutional developments that 
have occurred since 2013. 

A  second  objective  is  to  take  into  account  the  valuable  experience  and  insights 
accrued through the application of Regulation  (EU) No 472/2013, by clarifying the 
scope  and  application  of  both  enhanced  surveillance  and  post-programme 
surveillance.  In  doing  so,  the  proposal  will  also  contribute  to  the  streamlining  and 
simplification of the EU economic governance framework.  

1.3.2. 

Specific objective(s) 

To ensure  consistency with the reformed EU  economic  governance framework, the 
proposed amendments to Regulation (EU) No 472/2013 will (i) update references to 
documents and concepts introduced by the 2024 reform, as well as cross-references 
to  the  pieces  of  legislation  that  were  amended  as  part  of  that  reform;  (ii)  remove 
obsolete  procedures  and  the  requirement  for  Member  States  to  produce  documents 
and additional reporting obligations that are no longer necessary following the 2024 
reform.  

In  addition,  taking  into  account  the  accrued  experiences  with  the  application  of 
enhanced  surveillance,  the  amendments  will  seek  to  clarify  the  application  of 
enhanced surveillance when a euro area Member State is in receipt of precautionary 
financial assistance. Finally, taking into account relevant findings from the European 
Court of Auditors, the proposed amendments to  Regulation (EU) No 472/2013 will 
clarify  the  scope  and  objective  of  post-programme  surveillance,  as  well  as  its 
application, with a potential to streamline surveillance when warranted.   

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1.3.3.  Expected result(s) and impact 

The  proposal  should  prevent  duplication  of  reporting  and  lead  to  a  reduction  of 
administrative burden for euro area Member States threatened with financial stability 
issues.  Furthermore,  the  proposal  should  avoid  disincentivising  euro  area  Member 
States from requesting precautionary financial assistance when required. Finally, the 
proposal  should  clarify  the  scope  and  objective  of  post-programme  surveillance, 
resulting in a better implementation of the EU economic governance framework. 

1.3.4. 

Indicators of performance 

The  Commission  will  produce  a  report  every  five  years,  reviewing  (i)  the 
effectiveness  of  the  regulations  in  achieving  their  objectives;  (ii)  the  progress  in 
ensuring  closer  coordination  of  economic  policies  and  sustained  convergence  of 
economic performances of the Member States in accordance with the TFEU; and (iii) 
the contribution of the regulations to achieving sustainable and inclusive growth and 
social and economic resilience. Where appropriate, the report would be accompanied 
by a proposal to amend the regulations. 

1.4. 

The proposal/initiative relates to:  

 a new action  

 a new action following a pilot project / preparatory action13  

 the extension of an existing action  

 a merger or redirection of one or more actions towards another/a new action 

1.5. 

Grounds for the proposal/initiative  

1.5.1.  Requirement(s) to be met in the short or long term including a detailed timeline for 

roll-out of the implementation of the initiative 

N/A 

1.5.2.  Added  value  of  EU  involvement  (it  may  result  from  different  factors,  e.g. 
coordination gains, legal certainty, greater effectiveness or complementarities). For 
the  purposes  of  this  section  'added  value  of  EU  involvement'  is  the  value  resulting 
from  EU  action,  that  is  additional  to  the  value  that  would  have  been  otherwise 
created by Member States alone. 

Reasons for action at EU level (ex-ante): The action at EU level is necessary given 
the role conferred by the EU Treaties to ensure the coordination and surveillance of 
the economic and budgetary policies of Member States and in particular of euro area 
Member  States,  which  are  subject  to  stronger  economic  spillover  effects  including 
relating to financial stability. Actions by Member States alone cannot achieve these 
goals.  

13 

As referred to in Article 58(2), point (a) or (b) of the Financial Regulation. 

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Expected  generated  EU  added  value  (ex-post):  The  adoption  of  the  amended 
regulation  will  lead  to  a  better  implementation  of  the  EU  economic  governance 
framework  by  Member  States,  while  simultaneously  reducing  Member  States’ 
reporting requirements. 

1.5.3.  Lessons learned from similar experiences in the past 

N/A 

1.5.4.  Compatibility with the multiannual financial framework and possible synergies with 

other appropriate instruments 

N/A 

1.5.5.  Assessment  of  the  different  available  financing  options,  including  scope  for 

redeployment 

N/A 

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1.6. 

Duration of the proposal/initiative and of its financial impact 

 limited duration  

–    in effect from [DD/MM]YYYY to [DD/MM]YYYY  

–    financial  impact  from  YYYY  to  YYYY  for  commitment  appropriations  and 

from YYYY to YYYY for payment appropriations.  

 unlimited duration 

–  Implementation with a start-up period from YYYY to YYYY, 

–  followed by full-scale operation. 

1.7.  Method(s) of budget implementation planned14  

 Direct management by the Commission 

–   by its departments, including by its staff in the Union delegations;  

–    by the executive agencies  

 Shared management with the Member States  

 Indirect management by entrusting budget implementation tasks to: 

–   third countries or the bodies they have designated 

–   international organisations and their agencies (to be specified) 

–   the European Investment Bank and the European Investment Fund 

–   bodies referred to in Articles 70 and 71 of the Financial Regulation 

–   public law bodies 

–   bodies governed by private law with a public service mission to the extent that 

they are provided with adequate financial guarantees 

–   bodies governed by the private law of a Member State that are entrusted with 
the  implementation  of  a  public-private  partnership  and  that  are  provided  with 
adequate financial guarantees 

–   bodies or persons entrusted with the implementation of specific actions in the 
common  foreign  and  security  policy  pursuant  to  Title  V  of  the  Treaty  on 
European Union, and identified in the relevant basic act 

–  bodies established in a Member State, governed by the private law of a Member 
State or Union law and eligible to be entrusted, in accordance with sector-specific 
rules,  with  the  implementation  of  Union  funds  or  budgetary  guarantees,  to  the 
extent that such bodies are controlled by public law bodies or by bodies governed 
by  private  law  with  a  public  service  mission,  and  are  provided  with  adequate 

14 

Details of budget implementation methods and references to the Financial Regulation may be found on 
the BUDGpedia site: https://myintracomm.ec.europa.eu/corp/budget/financial-rules/budget-
implementation/Pages/implementation-methods.aspx. 

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financial  guarantees  in  the  form  of  joint  and  several  liability  by  the  controlling 
bodies  or  equivalent  financial  guarantees  and  which  may  be,  for  each  action, 
limited to the maximum amount of the Union support. 

Comments  

The proposal does not have an impact on the EU budget. 

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2. 

MANAGEMENT MEASURES  

2.1.  Monitoring and reporting rules  

N/A 

2.2.  Management and control system(s)  

2.2.1. 

Justification  of  the  budget  implementation  method(s),  the  funding  implementation 
mechanism(s), the payment modalities and the control strategy proposed 

N/A 

2.2.2. 

Information concerning the risks identified and the internal control system(s) set up 
to mitigate them 

N/A 

2.2.3.  Estimation  and  justification  of  the  cost-effectiveness  of  the  controls  (ratio  between 
the control costs and the value of the related funds managed), and assessment of the 
expected levels of risk of error (at payment & at closure)  

N/A  

2.3.  Measures to prevent fraud and irregularities  

N/A 

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3. 

3.1. 

ESTIMATED FINANCIAL IMPACT OF THE PROPOSAL/INITIATIVE  

Heading(s)  of  the  multiannual  financial  framework  and  expenditure  budget 
line(s) affected  

The proposal does not have an impact on the EU budget.  

•  Existing budget lines  

In order of multiannual financial framework headings and budget lines. 

Budget line 

Type of 
expenditure 

Contribution  

Heading of 
multiannual 
financial 
framework 

Number  

[XX.YY.YY.YY] 

[XX.YY.YY.YY] 

[XX.YY.YY.YY] 

Diff./Non-
diff.15 

from 
EFTA 
countries
16 

from 
candidate 
countries 
and 
potential 
candidates
17 

From 
other 
third 
countries 

other assigned 
revenue 

Diff./Non
-diff. 

Diff./Non
-diff. 

Diff./Non
-diff. 

YES/NO  YES/NO  YES/NO 

YES/NO 

YES/NO  YES/NO  YES/NO 

YES/NO 

YES/NO  YES/NO  YES/NO 

YES/NO 

•  New budget lines requested  

In order of multiannual financial framework headings and budget lines. 

Budget line 

Type of 
expenditure 

Heading of 
multiannual 
financial 
framework 

Number  

Diff./Non-
diff. 

from 
EFTA 
countries 

Contribution  

from 
candidate 
countries 
and 
potential 
candidates 

from 
other 
third 
countries 

other assigned 
revenue  

[XX.YY.YY.YY] 

Diff./Non
-diff. 

YES/NO  YES/NO  YES/NO 

YES/NO 

15 
16 
17 

Diff. = Differentiated appropriations / Non-diff. = Non-differentiated appropriations. 
EFTA: European Free Trade Association.  
Candidate countries and, where applicable, potential candidates from the Western Balkans. 

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[XX.YY.YY.YY] 

[XX.YY.YY.YY] 

Diff./Non
-diff. 

Diff./Non
-diff. 

YES/NO  YES/NO  YES/NO 

YES/NO 

YES/NO  YES/NO  YES/NO 

YES/NO 

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3.2. 

Estimated financial impact of the proposal on appropriations  

3.2.1. 

Summary of estimated impact on operational appropriations  

–   The proposal/initiative does not require the use of operational appropriations  

–    The proposal/initiative requires the use of operational appropriations, as explained below 

3.2.1.1.  Appropriations from voted budget 

Heading of multiannual financial framework  

Number 

EUR million (to three decimal places) 

DG: <…….> 

Year 

2024 

Year 

2025 

Year 

2026 

Year 

2027 

TOTAL MFF 
2021-2027 

Operational appropriations  

Budget line 

Budget line 

Commitments 

Payments 

Commitments 

Payments 

(1a) 

(2a) 

(1b) 

(2b) 

Appropriations of an administrative nature financed from the envelope of specific programmes18 
Budget line 

(3) 

TOTAL appropriations 
for DG <…….> 

Commitments 

Payments 

=1a+1b+3 

=2a+2b+3 

0.000 

0.000 

0.000 

0.000 

0.000 

0.000 

0.000 

0.000 

0.000 

0.000 

0.000 

0.000 

0.000 

0.000 

0.000 

TOTAL 

operational 

appropriations  

Commitments 

(4) 

0.000 

0.000 

0.000 

0.000 

0.000 

Year 

2024 

Year 

2025 

Year 

2026 

Year 

2027 

TOTAL MFF 
2021-2027 

18 

Technical and/or administrative assistance and expenditure in support of the implementation of EU programmes and/or actions (former ‘BA’ lines), indirect research, direct research. 

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Payments 

TOTAL  appropriations  of  an  administrative  nature  financed 
from the envelope for specific programmes  

TOTAL appropriations under 
HEADING <….> 

Commitments 

of the multiannual financial framework 

Payments 

(5) 

(6) 

=4+6 

=5+6 

0.000 

0.000 

0.000 

0.000 

0.000 

0.000 

0.000 

0.000 

0.000 

0.000 

0.000 

0.000 

0.000 

0.000 

0.000 

0.000 

0.000 

0.000 

0.000 

0.000 

3.2.2.  Estimated output funded from operational appropriations (not to be completed for decentralised agencies) 

Year  
2024 

Year  
2025 

Year  
2026 

Year  
2027 

Enter as many years as necessary to show the 
duration of the impact (see Section1.6) 

TOTAL 

OUTPUTS 

Commitment appropriations in EUR million (to three decimal places) 

o
N

Cost 

o
N

Cost 

o
N

Cost 

o
N

Cost 

o
N

Cost  N

o

Cost 

o
N

Cost 

Total 
No 

Total 
cost 

Indicate 
objectives and 
outputs  

Type19 

 

Avera
ge 
cost 

SPECIFIC OBJECTIVE No 120… 

- Output 

- Output 

- Output 

Subtotal for specific objective No 1 

SPECIFIC OBJECTIVE No 2 ... 

19 
20 

Outputs are products and services to be supplied (e.g. number of student exchanges financed, number of km of roads built, etc.). 
As described in Section 1.3.2. ‘Specific objective(s)’  

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- Output 

Subtotal for specific objective No 2 

TOTALS 

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3.2.3. 

Summary of estimated impact on administrative appropriations  

–   The  proposal/initiative  does  not  require  the  use  of  appropriations  of  an 

administrative nature  

–    The proposal/initiative requires the use of appropriations of an administrative 

nature, as explained below 

3.2.3.1. Appropriations from voted budget 

VOTED APPROPRIATIONS 

Year 

2024 

Year 

2025 

Year 

2026 

Year 

2027 

TOTAL 
2021 - 2027 

HEADING 7 

Human resources  

Other administrative expenditure  

Subtotal HEADING 7 

Outside HEADING 7 

Human resources  

Other expenditure of an administrative nature 

Subtotal outside HEADING 7 

0.000 

0.000 

0.000 

0.000 

0.000 

0.000 

0.000 

0.000 

0.000 

0.000 

0.000 

0.000 

0.000 

0.000 

0.000 

0.000 

0.000 

0.000 

0.000 

0.000 

0.000 

0.000 

0.000 

0.000 

0.000 

0.000 

0.000 

0.000 

0.000 

0.000 

TOTAL 

0.000 

0.000 

0.000 

0.000 

0.000 

The  appropriations  required  for  human  resources  and  other  expenditure  of  an  administrative  nature 
will  be  met  by  appropriations  from  the  DG  that  are  already  assigned  to  management  of  the  action 
and/or  have  been  redeployed  within  the  DG,  together,  if  necessary,  with  any  additional  allocation 
which may be granted to the managing DG under the annual allocation procedure and in the light of 
budgetary constraints. 

3.2.4.  Estimated requirements of human resources  

–   The proposal/initiative does not require the use of human resources  

–    The  proposal/initiative  requires  the  use  of  human  resources,  as  explained 

below 

3.2.4.1.  Financed from voted budget 

Estimate to be expressed in full-time equivalent units (FTEs)21 

VOTED APPROPRIATIONS 

Year 

2024 

Year 

2025 

Year 

2026 

Year 

2027 

 Establishment plan posts (officials and temporary staff) 

20 01 02 01 (Headquarters and Commission’s Representation Offices) 

20 01 02 03 (EU Delegations) 

01 01 01 01 (Indirect research) 

01 01 01 11 (Direct research) 

0 

0 

0 

0 

0 

0 

0 

0 

0 

0 

0 

0 

0 

0 

0 

0 

21 

Please specify below the table how many FTEs within the number indicated are already assigned to the 
management of the action and/or can be redeployed within your DG and what are your net needs. 

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Other budget lines (specify) 

• External staff (in FTEs) 

20 02 01 (AC, END from the ‘global envelope’) 

20 02 03 (AC, AL, END and JPD in the EU Delegations) 

- at Headquarters 

Admin. Support 
line 
[XX.01.YY.YY] 
01 01 01 02 (AC, END - Indirect research) 

- in EU Delegations  

 01 01 01 12 (AC, END - Direct research) 

Other budget lines (specify) - Heading 7 

Other budget lines (specify) - Outside Heading 7 

TOTAL 

The staff required to implement the proposal (in FTEs):  

0 

0 

0 

0 

0 

0 

0 

0 

0 

0 

0 

0 

0 

0 

0 

0 

0 

0 

0 

0 

0 

0 

0 

0 

0 

0 

0 

0 

0 

0 

0 

0 

0 

0 

0 

0 

0 

0 

0 

0 

Exceptional additional staff* 

To be covered by 
current staff 
available in the 
Commission 
services  

To be financed 
under Heading 7 
or Research 

To be financed 
from BA line 

To be financed 
from fees 

N/A 

Establishment 
plan posts 

External 
staff 
(CA, SNEs, INT) 

Description of tasks to be carried out by: 

Officials and temporary staff 

External staff 

3.2.5.  Overview of estimated impact on digital technology-related investments 

TOTAL Digital and IT appropriations 

HEADING 7 

IT expenditure (corporate)  

Subtotal HEADING 7 

Outside HEADING 7 

Year 

Year 

Year 

Year 

2024 

2025 

2026 

2027 

TOTAL 
MFF 
2021 - 
2027 

0.000 

0.000 

0.000 

0.000 

0.000 

0.000 

0.000 

0.000 

0.000 

0.000 

Policy IT expenditure on operational 

0.000 

0.000 

0.000 

0.000 

0.000 

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programmes 

Subtotal outside HEADING 7 

0.000 

0.000 

0.000 

0.000 

0.000 

TOTAL 

0.000 

0.000 

0.000 

0.000 

0.000 

3.2.6.  Compatibility with the current multiannual financial framework  

The proposal/initiative: 

–   can be fully financed through redeployment within the relevant heading of the 

multiannual financial framework (MFF) 

–    requires use of the unallocated margin under the relevant heading of the MFF 

and/or use of the special instruments as defined in the MFF Regulation 

–    requires a revision of the MFF 

3.2.7.  Third-party contributions  

The proposal/initiative: 

–   does not provide for co-financing by third parties 

–    provides for the co-financing by third parties estimated below: 

Appropriations in EUR million (to three decimal places) 

Year  
2024 

Year  
2025 

Year  
2026 

Year  
2027 

Total 

Specify the co-financing body  

TOTAL appropriations co-
financed  

3.3. 

Estimated impact on revenue  

–   The proposal/initiative has no financial impact on revenue. 

–    The proposal/initiative has the following financial impact: 

– 

– 

– 

 

 

on own resources  

on other revenue 

  please indicate, if the revenue is assigned to expenditure lines 

Budget revenue line: 

Appropriations 
available for the 
current financial 
year 

     EUR million (to three decimal places) 

Impact of the proposal/initiative22 

Year 2024 

Year 2025  Year 2026 

Year 2027 

22 

As regards traditional own resources (customs duties, sugar levies), the amounts indicated must be net 
amounts, i.e. gross amounts after deduction of 20% for collection costs. 

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Article …………. 

For assigned revenue, specify the budget expenditure line(s) affected. 

Other  remarks  (e.g.  method/formula  used  for  calculating  the  impact  on  revenue  or 
any other information). 

4. 

DIGITAL DIMENSIONS 

4.1. 

Requirements of digital relevance 

The proposed amendments do not establish any new requirements of digital relevance. The 
proposed  changes  do  not  introduce  any  additional  obligations  or  provisions  related  to  the 
collection,  processing,  generation,  exchange,  or  sharing  of  data,  the  automation  or 
digitalisation  of  stakeholders'  processes,  the  use  of  new  or  existing  digital  solutions,  or 
digital  public  services.  Therefore,  no  additional  requirements  of  digital  relevance  are 
identified in this proposal. 

4.2. 

Data 

NA 

4.3. 

Digital solutions 

NA 

4.4. 

Interoperability assessment 

NA 

4.5.  Measures to support digital implementation 

NA 

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