News release: “The adoption by the European Commission of the Annual Growth Survey (AGS) will mark the beginning of the first cycle of coordination of the Member States’ macro-economic, budgetary and structural reform policies, known as the “European semester”. This is a real step forward for European economic governance. From now on, every year the Commission will present its “Growth Survey” an evaluation of the economic situation and of the main challenges the EU must address, and its recommendations to the Member States. The crisis could have a lasting effect on potential growth. Medium term potential growth for Europe is projected to remain low and estimated at around 1.5% up to 2020 if no structural action is taken namely to resolve the labour productivity gap with our main competitors. Given its cyclical nature, recovery alone cannot provide the impetus for leading Europe back to the pre-crisis economic situation and absorb the deficit accumulated. To avoid stagnation, unsustainable debt trends, accumulated imbalances and ensure its competitiveness, Europe needs to accelerate the consolidation of its public finances, the reform of its financial sector and to frontload structural reforms now.”
Accurate, Focused Research on Law, Technology and Knowledge Discovery Since 2002
Sorry, comments are closed for this post.