The European Commission have published their assessments of the draft budgets from the 16 eurozone countries covered by the assessment (programme countries Greece and Cyprus are not involved). Of the 16, five were judged as “compliant” by the Commission (shown in green below).
A huge amount of material is available here. For Ireland there is the:
The Commission have also published the Alert Mechanism Report as part of the Macroeconomic Imbalance Procedure. There is also the Statistical Annex from which Ireland’s scorecard is extracted here and shows four “imbalances” with house prices likely to add a fifth. The “auxiliary indicators” may also be worth a glance.
This is still early days for the European Semester but at the moment it feels a little like a blizzard covering everything. It seems to be designed on the maximin principle – by including everything they can’t be accused of missing anything. The problem is that the important points may get lost in the noise.