Thessaloniki European Council 19-20 June 2003: Presidency Conclusions On Economic Policy and Employment Guidelines
Date: 25-6-2003
VII. FOLLOW-UP OF THE 2003 SPRING EUROPEAN COUNCIL
Broad Economic Policy Guidelines and Employment Guidelines
The European Council draws particular attention to the key policy priorities underlying the Broad Economic Policy Guidelines and the revised Employment Guidelines:
- creating the best economic conditions to promote growth, firstly by delivering a stability-orientated macroeconomic framework which can provide a platform for increased domestic demand and job creation, and secondly by pursuing greater competitiveness and dynamism through investment in human and physical capital and Research and Development, through improving the economy-wide application of technology and exploitation of research, through fully integrated EU financial markets and through fostering entrepreneurship and improving the framework conditions for industry,
- reforms to create more and better jobs in order to promote full employment, making labour markets more efficient, inclusive and adaptable, adapting tax and benefit systems to make work pay, increasing labour market participation in line with the Lisbon targets, promoting a new balance between flexibility and security, facilitating labour mobility and improving and updating skills to achieve higher productivity and better quality jobs, and
- strengthening the sustainability of public finances in particular by further reducing government debt ratios and by reforming pension and health care systems now while the demographic window of opportunity is still open, thus ensuring that a massive burden is not left for future generations, as well as by increasing employment rates.
The European Council accordingly endorses the draft Broad Economic Policy Guidelines and the draft Employment Guidelines. This is the first time the two sets of guidelines have been presented under new streamlined procedures: the European Council welcomes the fact that both sets of guidelines now cover a period of three years and are presented in a new, concise format, with clear recommendations for policy action. The medium-term perspective and specific recommendations to the individual policy actors establish an agreed comprehensive framework for economic policy measures, progress on which can be systematically reviewed in the coming years. Member States should ensure consistency and coherence in the implementation of both sets of guidelines.
Progress with the Lisbon reform agenda
The European Council took note of the state of implementation of the various remits issued by the 2003 Spring European Council on the basis of a report submitted by the Presidency and recognised that while progress has been made, much still remains to be done.
In this context it welcomes in particular the final adoption of the tax package and of the Internal Market energy package and the agreements reached on Better Regulation, in the form of an interinstitutional agreement between the European Parliament, the Council and the Commission, as well as on the Second Railway Package and the decision authorising the Commission to open negotiations with the US in air transport; on the re-use of public sector documents and the establishment of the European Network and Information Security Agency; on the Erasmus Mundus and the e-Learning programmes; the Intelligent Energy for Europe programme and the decision on energy TENs; and on the environmental liability Directive.
The European Council also welcomes the progress achieved on the implementation of the Financial Services Action Plan (pensions funds, prospectuses and investment services) and on the modernisation of Regulation No 1408/71 enabling improved cross-border movement of EU citizens.
Finally, the European Council notes the Commission's intention to launch an initiative in cooperation with the European Investment Bank to support growth and integration by increasing overall investment and private sector involvement in TENs and major Research and Development projects and in this context invites the Italian Presidency to pursue this further.
Read the Thessaloniki European Council Presidency Conclusions in their entirety from the following URL:
http://www.eu2003.gr/en/articles/2003/6/20/3121/index.asp?