Budget Supervision by the European Union

Turmoil in the financial markets has in recent years led to increasing efforts on the part of the EU authorities to enhance the supervision on national budgets. Whereas the treaty of Maastricht that introduced the Euro included some fairly broad principles of fiscal prudence, subsequent packages of EU legislation sought to strengthen the requirements and specify sanctions in case of non-compliance. [...] The course will offer opportunity to study these subjects in detail and to discuss among participants the practical consequences of each of these legislative measures for national budgets and national budgetary procedures. The course will be equally relevant to officials of countries that have adopted the euro as to those of countries that have not (yet) done so, since most requirements of EU legislation apply equally to both groups of countries. [...]