New action for growth, governance and stability
The goals driving this package – economic growth, financial stability, budgetary discipline – are linked to each other
The European Commission adopted today the package enabling new action for growth, governance and stability.
The adopted package contains four elements: the 2012 Annual Growth Survey setting out the economic priorities for the coming year; two Regulations to tighten economic and budgetary surveillance in the euro area; and a Green Paper on Stability Bonds.
President Barroso stressed that: "to return to growth, Member States need to raise their game when it comes to implementing their commitments to structural reforms, as well as embrace deeper integration for the euro area." He continued: "The goals driving this package – economic growth, financial stability, budgetary discipline – are linked to each other. We need all of them if we are to move beyond the current emergency towards a Europe in which solidarity is balanced by strengthened responsibility. Implementing in the right way, the joint issuance of debt in the euro area could bring tremendous benefits."
With the adoption of this package the European Commission is accelerating its efforts for economic renewal, with moves to further strengthen euro area governance, safeguard future financial stability and boost growth and employment.
Annual Growth Survey [122 KB]
Annex - Macro Economic Report [545 KB]
Regulation on the strengthening of economic and budgetary surveillance of Member States experiencing or threatened with serious difficulties with respect to their financial stability in the euro area [30 KB]