This Survey is published on the responsibility of the Economic and Development Review Committee of the OECD, which is charged with the examination of the economic situation of member countries.The economic situation and policies of European Union were reviewed by the Committee on 3 May 2016. The draft report was then revised in the light of the discussions and given final approval as the agreed report of the whole Committee on 23 May 2016.The Secretariat’s draft report was prepared for the Committee by Jan Stráský and Álvaro Pina under the supervision of Pierre Beynet. Research assistance was provided by Desney Wilkinson-Erb and Secretarial assistance was provided by Sylvie Ricordeau.The previous Survey of the European Union was issued in April 2014.