REPORT FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT AND THE COUNCIL on implicit liabilities with potential impact on public budgets
1. As a result, of the reinforcement of EU economic governance in 2011, specifically Article 14(3) of Council Directive 2011/85/EU, new statistical requirements were set out for Member States.
2. These included a requirement to publish information on implicit liabilities with potential impact on public budgets, including some “contingent liabilities” of government with potentially large impacts on public budgets and government liabilities stemming from the operation of public corporations.
The Commission’s report on implicit liabilities with potential impact on public budgets
3. The report consists of a background section, an overview of the Eurostat data collection, the results of the data collection, consideration of other Eurostat data collections that include questions on implicit liabilities, and conclusions.