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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 Council Regulation (EC) No 1466/97

article 4

CELEX: 32024R1263

Implementation of the European Semester

1. Where necessary, following an assessment pursuant to this Regulation of the national medium-term fiscal-structural plans, the annual progress reports and the socio-economic situation of Member States, the Council shall, on the basis of recommendations from the Commission, address recommendations to Member States making full use of the legal instruments provided for in Articles 121 and 148 TFEU and related secondary legislation.

2. Member States shall take due account of the broad guidelines for their economic policies and of the recommendations and employment guidelines as referred to in Article 3(3), points (a) and (b), respectively, before taking key decisions in the development of their economic, social, employment, structural and budgetary policies. Progress shall be monitored by the Commission.

3. Failure by a Member State to act upon the guidelines and recommendations referred to in paragraph 2 may result in:

(a) further recommendations;

(b) a Commission warning or a Council recommendation pursuant to Article 121(4) TFEU;