Europe 2020 strategy
The EU's Europe 2020 strategy for smart, sustainable and inclusive growth was launched by the European Commission in March 2010 and approved by the Heads of States and Governments of EU countries in June 2010. The document sets out concrete targets to be achieved within the next decade in areas such as employment, education, energy use and innovation in order to overcome the impact of the financial crisis and put Europe back on track for economic growth.
Annual growth survey
Theis produced by the Commission in January each year. The survey is the main input for discussions on the Europe 2020 strategy at the Spring meeting of the European Council. It includes both a review of progress achieved and a forward-looking part integrating the three main strands of surveillance: fiscal, macroeconomic and thematic (structural and growth-enhancing reforms).
National reform programmes
The key delivery tool for the Europe 2020 Strategy at national level, NRPs are produced by national governments in April of each year, along with stability / convergence programmes. NRPs contain national targets relating to EU-wide headline targets and explain how governments intend to meet them and overcome obstacles to growth. They also set out what measures will be taken, when, by whom and with what budget implications.
Stability / convergence programmes
Produced annually by eurozone countries (stability programmes) and other EU countries (convergence programmes) under the Stability and Growth Pact. Aim is to ensure more rigorous budgetary discipline through surveillance and coordination of budgetary policies.
In line with the European Semester designed to coordinate economic policy-making in EU countries, the programmes are submitted simultaneously with national reform programmes in April each year, thus before government adoption of national budgets for the following year, and will provide for meaningful discussions on fiscal policy.
Country-specific recommendations and opinions
In June of each year, the Commission will propose integrated country-specific recommendations attached to country reports and an overall eurozone report. Where appropriate, the Commission may also issue a recommendation for a longer period – for example 2 years – to allow sufficient time for major structural reforms to be implemented.