Austerity has been put on the back burner in Europe. Now economic reform and growth are at the top of the agenda.
Officials at the European Commission, who coordinate economic policy across the region, are calling on EU member states to focus on boosting competitiveness and bringing down record high youth unemployment.
“This year’s recommendations call on all countries to be more ambitious when it comes to growth-boosting economic reforms,” said Commission president Jose Manuel Barroso in a prepared speech.
“While fiscal consolidation is on-going and should continue … member states should now intensify their efforts on structural reforms for competitiveness,” he said.