The outbreak of the credit crisis in 2008 and the subsequent European debt crisis have revealed large macroeconomic imbalances in Europe. Therefore, the European Union has formulated the so called Macroeconomic Imbalance Procedure. By means of a scoreboard, the European Commission judges whether there are (potential) imbalances within the member state’s economies. The scoreboard consists of eleven indicators, with lower and upper limits set by the Commission for each indicator. This Factsheet explains at the scoreboard in more detail.