Following his confirmation by the European Parliament on 16 July, Jyrki Katainen has now formally taken up his duties as European Commission Vice-President responsible for Economic and Monetary Affairs and the Euro.
The Council supports the objectives of the Italian Presidency to boost growth and jobs.
In this context, the Commission will report to the European Parliament and to the Council on the application of the EU governance framework by 14 December 2014.
The Council issued recommendations and opinions on economic, employment and fiscal policies planned by the member states.
The European Council will endorse the recommendations on 27 July.
The programme aims to address the financial, fiscal and structural challenges facing the economy in a decisive manner and should allow Cyprus to return to a sustainable growth path.
This report assesses compliance with the terms and conditions set out in the programme with the Cypriot authorities.