The Network of EU Independent Fiscal Institutions (IFIs) has examined the report on Completing Europe’s Economic and Monetary Union (henceforth referred to as the Five Presidents’ Report), the October Commission package to begin the implementation of the plans to deepen the EMU, in particular the Commission Decision establishing an independent advisory European Fiscal Board (EFB), and reflected on these initiatives to work towards an integrated framework for sound fiscal policies. See the full text of the position paper for more information.