The Commission has adopted a Communication setting out a coordinated European recovery action plan. It is based on a new European financial market architecture, a framework plan for the recovery of the real economy and a global response to the financial crisis
Communication COM(2008) 706 of the Commission is an important contribution to the debate within the EU and with its international partners on how to respond to the current financial crisis and its impact on the real economy.
This communication sets out a three part approach which will be developed into an overall and coordinated European recovery action plan:
In addition, the Commission will propose later, under the umbrella of the Lisbon Strategy for growth and jobs, a series of detailed targeted measures to mitigate the impact of the crisis on the real economy.