Slow economic growth across Europe, ageing populations, and budget constraints due to the economic crisis, paired with growing demands on health systems and increasing health expenditure, makes it increasingly difficult for European governments to ensure universal healthcare in a sustainable way. Although health is still a strictly national competence, the EU does have some influence on national health systems through its economic governance tools, such as the European Semester. At this Policy Dialogue, a panel of experts from the Commission and from European health stakeholder organisations discussed the impact of the European Semester on health policies in the member states, and how health systems could be improved in a fiscally sustainable way.