1.The Commission shall ensure a permanent dialogue with the authorities of the Member States in accordance with the objectives of this Regulation. To that end, the Commission shall, in particular, carry out missions for the purpose of assessing the economic situation in the Member State and the identification of any risks or difficulties in complying with the objectives of this Regulation.
2.The Commission may undertake enhanced surveillance missions for Member States which are the subject of a recommendation as to the existence of an excessive imbalance position under Article 7(2) for the purposes of on-site monitoring.
3.Where the Member State concerned is a Member State whose currency is the euro or is participating in ERM II, the Commission may, if appropriate, invite representatives of the European Central Bank to participate in surveillance missions.
4.The Commission shall report to the Council on the outcome of the missions referred to in paragraph 2 and may, if appropriate, decide to make its findings public.
5.When organising the missions referred to in paragraph 2, the Commission shall transmit its provisional findings to the Member State concerned for comments.
1.In order to enhance the dialogue between the institutions of the Union, in particular the European Parliament, the Council and the Commission, and to ensure greater transparency and accountability, the competent committee of the European Parliament may invite the President of the Council, the Commission and, where appropriate, the President of the European Council or the President of the Eurogroup to appear before the committee to discuss:
(a)information provided by the Council on the broad guidelines of economic policy pursuant to Article 121(2) TFEU;
(b)general guidance to Member States issued by the Commission at the beginning of the annual cycle of surveillance;
(c)the conclusions of the European Council concerning orientations for economic policies in the context of the European Semester;
(d)the results of multilateral surveillance carried out under this Regulation;
(e)the conclusions of the European Council concerning the orientations for, and results of, multilateral surveillance;
(f)a review of the conduct of the multilateral surveillance at the end of the European Semester;
(g)the recommendations taken pursuant to Article 7(2), Article 8(2) and Article 10(4) of this Regulation.
2.The competent committee of the European Parliament may offer the opportunity to participate in an exchange of views to the Member State which is the subject of a Council recommendation or decision under Article 7(2), Article 8(2) or Article 10(4).
3.The Council and the Commission shall regularly inform the European Parliament of the results of the application of this Regulation.
The Commission shall report annually on the application of this Regulation, including the updating of the scoreboard as set out in Article 4 and shall present its findings to the European Parliament and to the Council in the context of the European Semester.
1.By 14 December 2014 and every 5 years thereafter, the Commission shall review and report on the application of this Regulation.
Those reports shall evaluate, inter alia:
(a)the effectiveness of this Regulation;
(b)the progress in ensuring closer coordination of economic policies and sustained convergence of economic performances of the Member States in accordance with the TFEU.
Where appropriate, those reports shall be accompanied by a proposal for amendments to this Regulation.
2.The Commission shall send the reports referred to in paragraph 1 to the European Parliament and to the Council.
This Regulation shall enter into force on the 20th day following its publication in the Official Journal of the European Union.