Directorate-General for Economy and Finance
The Directorate-General for Economic and Financial Affairs , also known as DG ECFIN, is part of the European Commission . This General Directorate reports to the EU Commissioner for Economic and Monetary Affairs, currently Pierre Moscovici . It is headed by General Director Marco Buti .
tasks
On behalf of the EU Commission, DG Economy and Finance prepares economic forecasts for the situation in the EU and the European Economic and Monetary Union . Twice a year, the economic situation in the Member States is analyzed and forecasts for the economic development of the respective country are made. In addition, the orientation of the macroeconomic dialogue is another task, where top politicians from the Commission, the Council and the European Central Bank meet with representatives of employers and employees. The aim is to align the common economic policy with one another in order to prevent excessive distortions. An important field of activity is the review of the national budgets, in particular of the euro member countries; From the reviews, the responsible currency commissioner derives any need for action for the respective budget and can ultimately decide on an excessive deficit procedure.
The main task of the Directorate-General for Economic and Financial Affairs is to promote the success of Economic and Monetary Union. In this context, it carries out a wide variety of macroeconomic analysis tasks for which appropriate high quality statistical economic indicators are required.
