Presentation is loading. Please wait.

Presentation is loading. Please wait.

European semester 2012: Country Specific Recommendations.

Similar presentations

Presentation on theme: "European semester 2012: Country Specific Recommendations."— Presentation transcript:

1 European semester 2012: Country Specific Recommendations

2 1 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

3 2 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)

4 3 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, …)

5 4 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

6 5 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

7 6 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

8 7 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

9 8 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

10 9 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 e- government) - Tackle corruption

11 10 Note: Recommendations proposed by the Commission in May 2012 for For IE, EL, PT and RO, the only recommendation is to implement existing commitments under EU/IMF financial assistance programmes. More information at: EU recommendations for national action in 2012/13

12 11 Commitments under the Euro Plus Pact Note: this table summarises commitments taken by Member States participating in the Euro Plus Pact since Spring 2011.

13 12 Are we likely to meet our targets for 2020? EMPLOYMENT 75% of the population aged should be employed INNOVATION 3% of the EU's GDP should be invested in R&D CLIMATE / ENERGYA reduction of CO2 emissions by 20% A share of renewable energies up to 20% An increase in energy efficiency by 20% EDUCATIONThe share of early school leavers should be under 10% At least 40% of the younger generation should have a degree or diploma POVERTY20 million fewer people should be at risk of poverty

14 13 For more information

Download ppt "European semester 2012: Country Specific Recommendations."

Similar presentations

Ads by Google