The legislative acts for the institution of these new instruments are still under discussion. It is important, while retaining the objectives, to accord greater operational importance to prevention than to inevitably tardy corrective measures.
In any case, it is important that the Commission’s power to issue warnings and recommendations to divergent countries be applied uniformly and not subject to the approval of the Ecofin Council. Crisis management. Under the pressure of global markets, in 2010 the European Union created the machinery for financial assistance to member states in difficulty.