The European Semester: only a first step

The short-term response to the crisis renewed the thoughts about the reform of European economic governance, fueled by the European Commission and the proposals of the Task Force chaired by Herman Van Rompuy. This debate has given birth to the “European semester”. After a presentation of content and tools of this new structural element of the post-crisis European economic governance, this Brief also addresses some issues that deserve special attention. Indeed, the European Semester is a breakthrough in the European economic governance, however, it is insufficient to provide the economic pillar EMU needs.