Page 391 - Invited Paper Session (IPS) - Volume 2

IPS297 Sophie Limpach et al.
6. The EWS process
The basic steps of the EWS process are as follows:
1. A national EWS correspondent informs the EWS secretariat at Eurostat
of a restructuring case affecting national or European statistics.
2. The EWS secretariat, the EWS correspondent from the EU Member
State triggering the EWS and the other EU Member States concerned
form an ad-hoc task force to discuss the case. This Task Force will
express a first opinion on the case and possible ways to treat it in the
national and European statistics concerned.
3. Eurostat and the national statistical compilers concerned coordinate
the dissemination of the statistical results.
4. In close cooperation with the concerned data compilers, Eurostat will
draw up a methodological note (containing an anonymised summary
of the case and methodological treatment).
5. This methodological note is stored in the secure EWS CIRCABC interest
group and accessible for all EWS correspondents. In this way, a
repository of cases is built up to guide the decisions on new cases.
6. Other EWS correspondents might express their opinion on this
methodological note. They may also inform Eurostat that they are also
affected by the case in question.
7. If a globalisation event has major effects on the data published,
Eurostat releases a short explanatory note at the moment of the data
release on its website.
The national EWS correspondents should ensure the involvement of their
respective National Central Banks (NCBs) statistics department (counterparts)
in EWS cases where external statistics, financial statistics or any underlying
primary data under their responsibility are affected. Likewise, NCBs should
inform the national EWS correspondents when they become aware of
potential cases. The relevant NCBs and the ECB statistics department are
participating fully in the case-specific task forces where external, financial
statistics or any underlying statistics under their responsibility are affected.

7. The EWS cases
At the time of drafting this paper, 14 restructuring cases were reported to
the EWS, and 18 EU Member States and 2 EFTA countries have been directly
involved in at least one EWS case. 7 cases have been closed, and the other 7
are ongoing, i.e. information is being collected and/or the statistical impact is
being assessed. 3 of the 7 ongoing cases are recent and concern a financial
services group, an automotive manufacturer, and an electronic goods
manufacturer.

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