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The October summit reviews progress on growth and jobs compact

<p>President of the European Council<br />Herman van Rompuy at the press<br />conference following the meeting<br />© European Union</p>

President of the European Council
Herman van Rompuy at the press
conference following the meeting
© European Union

The implementation of the EU's growth and jobs agenda – the Compact for growth and jobs – agreed  by member states in June 2012, was reviewed by the EU leaders at the European Council meeting on 18 and 19 October. They welcomed the progress made so far, but also called for swift and result-oriented action so that it is implemented fully and rapidly.

 

"Creating jobs and boosting inclusive growth remains our utmost priority, our ultimate goal. The commitments made under the Compact for Growth and Jobs need to be followed by decisive action now", said President of the European Council Herman Van Rompuy, before the European Council meeting.

 

The European Council indicated the areas where greater efforts are required:

 

  • invest in growth – implementing the financing package of 120 billion euro agreed in June
  • deepen  the single market
  • develop transport, energy and digital networks across the EU (the Connecting Europe Facility, the plan to complete the internal energy market by 2014)
  • complete the digital single market by 2015
  • promote research and innovation
  • enhance competitiveness of the industry sector
  • create the right regulatory framework for growth
  • develop a tax policy for growth
  • boost employment and social inclusion, especially adopt initiatives to tackle youth unemployment
  • implement the Europe 2020 strategy
  • harness the potential of trade

 

"What we did in the Conclusions, is to make an evaluation of how the Compact (…) is being implemented", said President of the European Council Herman Van Rompuy.

 

He also evaluated the progress made in a letter to the EU leaders earlier this month.

 

Background

 

The Compact was conceived as the EU member states' response to  stalling growth and increasing unemployment due to the economic crisis. It sets out tasks and initiatives that are to be undertaken at all levels – national, the euro area member states and the EU – to boost growth, investment and jobs.

 

More information:


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