"The first priority is enhancing macro-economic stability. This means above all fiscal consolidation – not for its own sake but as a means of securing our future growth, jobs and prosperity. We need a plan to balance the books. Many Member States also need to tackle large and persistent macroeconomic imbalances. At the same time, bank restructuring must be speeded up to bring stability to the financial sector. Only then will we create the conditions for confidence."
"Second, Europe needs to push forward with structural reforms. Member States need to focus this year on labour market reforms so we can remove obstacles to higher employment. Commissioner Andor will develop these points. We need to help people get back to work or find new jobs by making work more attractive, urgently reforming pension systems and making sure that unemployment benefits provide an incentive to work. This does not mean reducing our level of social protection – but it does mean modernising our labour markets to keep more people in work and to bring in those who are currently outside the labour market, namely young people. We can adapt while keeping our social market economy. In fact we need to adapt if we want to keep our social market economy. That means being more flexible with contracts and benefits while building new and dynamic ways of providing protection. We will continue to protect the vulnerable in our societies and at the same time work harder to make sure we have less vulnerable people."
"Third priority, we need to speed-up investment in future growth through new sources of growth. Tough fiscal action and a plan for growth are not alternative strategies. They are different parts of a comprehensive strategy. That means supporting business and investing in the growth industries of the future like green energy, innovative start-ups and advanced manufacturing. It means tapping into the potential of our Single Market. It means increased investment in major infrastructure projects through EU project bonds for instance."
© European Commission
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