The economic crisis has prompted intense and sustained action by the EU's national governments, the European Central Bank and the Commission. All have been working closely together to support growth and employment, ensure financial stability, and put in place a better governance system for the future.
The adoption of the Two-Pack is the essential foundation for the next steps in that process. The Commission intends to come forward in the coming months with further ambitious proposals to that end, as set out in the Blueprint for a Deep and Genuine EMU adopted last November.
Olli Rehn, Commission Vice-President for Economic and Monetary Affairs and the Euro said: "The ongoing rebalancing of the European economy is continuing to weigh on growth in the short term. The current situation can be summarised like this: we have disappointing hard data from the end of last year, some more encouraging soft data in the recent past, and growing investor confidence in the future."
Ireland’s economic recovery is continuing and is expected to gradually gain momentum, with growth forecast to firm to over 1 percent in 2013 and over 2 percent in 2014.
European Commission MEMO Brussels, 7 February 2013 The EU's Council of Economic and Finance Ministers will take place on Tuesday, 12 February at 10.30. The European Commission will be represented by Olli Rehn, Vice President and Commissioner for Economic and Monetary Affairs and the Euro, Algirdas Šemeta, Commissioner for Taxation...
European Commission MEMO Brussels, 4 February 2013 The successful conclusion of the second review mission to Spain shows that the repair and reform of the Spanish financial sector is proceeding apace. Bank recapitalisation and restructuring is underway, and the asset management company SAREB is up and running.
European Commission MEMO Brussels, 4 February 2013 A delegation from the European Commission, in liaison with the European Central Bank, the European Stability Mechanism and the European Banking Authority, completed the second review of the financial sector assistance programme for Spain from 28 January to 1 February 2013.