Page 388 - Invited Paper Session (IPS) - Volume 2

IPS297 Sophie Limpach et al.
The EWS very much relies on an established network of national EWS
correspondents, coordinated by Eurostat (which ensures the secretariat), who
started working on concrete restructuring cases. Furthermore, the cooperation
with the ESCB and the European Central bank (ECB) has been established.

2. Purpose of the EWS
The EWS was established to detect in a timely manner and being prepared
for restructuring events of MNEs. In particular, the purpose of the EWS is:
1. To facilitate an early exchange of information on restructuring cases
across EU Member States directly concerned with the aim of
achieving, to the extent possible, an agreed methodological
treatment of the cases by the national data compilers.
2. To ensure the consistency of European statistics as regards such
globalisation events.
3. To ensure a coordinated timing in the publication of first results and
revisions.
4. To ensure a timely, consistent and interlinked communication
towards users of national and European statistics.
The system should focus on the consistent statistical treatment of single
major globalisation cases.

3. Events subject to the EWS
The EWS should be triggered in the following cases:
1. The restructuring of one or more MNEs effects not only one EU Member
State, but also two or more. Restructuring of MNEs means that an MNE
changes the group structure or distribution of its business model across
countries (e.g. creation of new branches or other entities, the transfer of
assets across borders, changes of global production arrangements such
as contract manufacturing).
2. The restructuring has sizeable effects on national and on European
statistics. This should be judged looking at the published data. Special
attention needs to be given to National Accounts main aggregates, the
Principal European Economic Indicators (PEEIs) and similar data with a
high visibility.
3. Since the EU Member States concerned might be very different in
economic size and structure, a single quantitative threshold for
triggering the EWS is not appropriate. When dealing with restructuring
cases, medium-sized and big countries should also consider the effects
on smaller countries, in particular when they already know that such
countries are affected.
4. The impact on the data published should also be considered in the light
of the size of normal revisions for the statistics in question. Moreover,

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