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The Commission is seeking to move “beyond the crisis”
The European Commission has today adopted recommendations to EU Member States designed to move Europe beyond the crisis and strengthen the foundations for growth.
In a statement the EC said that the “recommendations are based on detailed analyses of each country’s situation and provide guidance to governments on how to boost their growth potential, increase competitiveness and create jobs in 2013-2014. Taken together, they represent an ambitious set of reforms for the EU economy”.
As part of today’s package, which marks the culmination of the third European Semester of policy coordination, the Commission has also adopted several decisions under the Excessive Deficit Procedure.
The EC’s President, Manuel Barroso, said “Now is the time to step up the fundamental economic reforms that will deliver growth and jobs, which our citizens, especially our young people, anxiously expect. This is the only way to address the two lasting legacies of this crisis – the serious loss of competitiveness in many of our Member States, and persistent unemployment, with all its social consequences.
“The recommendations issued by the Commission today are part of our comprehensive strategy to move Europe beyond the crisis. They are concrete, realistic, and adapted to the situation of each of our Member States.”
A number of key messages have emerged from this round of country-specific recommendations (CSRs). The Commission’s analysis shows that rebalancing is underway in the EU. Most Member States are making progress on fiscal consolidation and are implementing reforms to increase competitiveness. However, the pace and impact of these efforts varies. Some Member States need to accelerate reforms or to implement them with greater urgency.
A major challenge cited by the EC is rising unemployment, especially youth unemployment, by increasing the use of active labour market policies or by reforming education and training systems to “make sure jobseekers are equipped with the right skills for the jobs we have”.
The EC argues that more “can also be done to create the conditions for businesses to invest and create jobs, including by improving competition in product and service markets and promoting investment in research, innovation and resource efficiency. Moreover, fiscal consolidation should continue, albeit at a different pace, while remaining pockets of vulnerability in the banking sector need to be addressed”.
