Transcript Action for stability, growth and jobs

European semester 2012:
Country Specific Recommendations
30 May package
• - « Chapeau » Communication on Action for
Stability, Growth and Jobs
• - 27 Country Specific Recommendations + 1 for
Euro-area
• - 27 analytical Staff Working Documents + 1 for
Euro-area
• - 12 In-depth studies (under new Macroeconomic
Imbalances Procedure)
• - 2 Recommendations to bring DE and BG out of
EDP
• - 1 Recommendation to lift HU Cohesion Fund
suspension
• - 27 « thematic fiches » comparing Member States’
performance
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Action for stability, growth and jobs
• EU-level action for growth:
• - Europe 2020 strategy
• - Economic and Monetary Union (SGP, financial
backstops, banking sector, deepened EMU)
• - Internal Market (EU patent, services directive,
Single Market II proposal)
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Action for stability, growth and jobs
• - Human capital (job-rich recovery, skills,
mobility)
• - External sources of growth (FTA)
• - EU funding of the growth that Europe needs
(MFF, structural funds, project bonds, EIB capital
increase, …)
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Action for stability, growth and jobs
• Member State level action for growth:
• - National reform programmes, end April 2012;
• Reports from MS on national consultation process:
- AT, SE, BE, FR, NL, BG, CY, DK, EE, HU, LU, SK, PL, RO reported to have had a
formal and apparently good consultation process. For AT, SE, BE, FR, NL
contributions from social partners/stakeholders are annexed to the NRP
- LT, SI, FI seemed to have only had a reduced consultation process
- CZ, DE, UK seemed to have had no formal consultation process (but may have
informal ones)
- ES, MT had no consultation process
• - Stability or Convergence programmes
• - Commission Country Specific recommendations
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Action for stability, growth and jobs
• 2012 Country Specific Recommendations – overview
• 1) Pursue differentiated growth-friendly fiscal
consolidation:
• - Deficits are falling, but:
• - Improve growth-friendliness of fiscal consolidation;
• - Use available fiscal space in countries without excessive
deficits
• - Pursue pension reform
• - Shift tax burden from labour to environment and
consumption, reduce tax exemptions
• - Fight shadow economy
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Action for stability, growth and jobs
• 2) Restore normal lending to the economy:
• - Complete restructuring of banking sector, while
avoiding excessive deleveraging
• - Promote access to finance for SMEs
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Action for stability, growth and jobs
• 3) Promote growth and competitiveness:
• More efforts are needed to:
• - Open up services sector and public procurement
markets
• - Improve performance of network industries
• - Improve business environment
• - Promote R&D investment and innovation
• - Take steps to meet the 2020 energy targets
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Action for stability, growth and jobs
• 4) Tackle unemployment and social exclusion:
• - Fight youth unemployment
• - Reduce early school leaving, improve training and
develop apprenticeships
• - Increase labour market participation (e.g. of women,
older workers, vulnerable groups)
• - Align development of wages with productivity
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Action for stability, growth and jobs
• 5) Modernise public administration:
• - Improve administrative capacity
• - Enhance efficiency of civil justice systems (backlogs,
length of judicial proceedings)
• - Improve quality of services (eg through egovernment)
• - Tackle corruption
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EU recommendations for national action in 2012/13
Public finances
Sound
public
finances
AT
BE
BG
CY
CZ
DE
DK
EE
ES
FI
FR
HU
IT
LT
LU
LV
MT
NL
PL
SE
SI
SK
UK
Pension
and
health
systems
Fiscal
framework
Financial sector
Taxation
Banking
Housing
market
Access to
finance
Growth enhancing structural reforms
Network
industries
Competition in
service sector
Public
services
and
regulation
R&D
and
innovation
Labour market
Resource
efficiency
Labour
market
participation
Active
labour
market
policy
Wage
setting
mechanisms
Labour
market
flexicurity
Education
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Note: Recommendations proposed by the Commission in May 2012 for 2012-2013. For IE, EL, PT and RO, the only recommendation is to implement existing
commitments under EU/IMF financial assistance programmes. More information at: http://ec.europa.eu/europe2020/index_en.htm
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Commitments under the Euro Plus Pact
Foster competitiveness
Wage setting
mechanisms
Public sector
wage
developments
Competition in
services
Education,
R&D,
innovation
Sustainability of
public finances
Foster employment
Business
environment
Labour
market
flexicurity
Labour
Undeclared
participation
work
Life-long
learning
Lower
labour
taxes
ParticiAlign pensions Incentives
pation of 2nd
to
for older
earners
demography
workers
National
fiscal rule
Reinforce financial
stability
National legislation for
banking resolution and
other financial
stabilisation measures
AT
BE
BG
CY
DE
DK
EE
EL
ES
FI
FR
IE
IT
LT
LU
LV
MT
NL
PL
PT
RO
SI
SK
Note: this table summarises commitments taken by Member States participating in the Euro Plus Pact since Spring 2011.
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Are we likely to meet our targets for 2020?
EMPLOYMENT
75% of the population aged 20-64 should be employed
INNOVATION
3% of the EU's GDP should be invested in R&D
CLIMATE / ENERGY A reduction of CO2 emissions by 20%
A share of renewable energies up to 20%
An increase in energy efficiency by 20%
EDUCATION
The share of early school leavers should be under 10%
At least 40% of the younger generation should
have a degree or diploma
POVERTY
20 million fewer people should be at risk of poverty
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For more information
• http://ec.europa.eu/europe2020/index_en.htm
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