Thursday October 30, 2014 Search
Weather | Athens
19o C
12o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
EU draft document urges more focus on growth, jobs

By Giselda Vagnoni & Francesco Guarascio

BRUSSELS/ROME - European leaders will consider calls for an interpretation of EU budget rules that gives more emphasis to economic growth, according to the draft of a document being circulated before a summit in Brussels this week.

The document, which European Council President Herman Van Rompuy is drawing up in consultation with Italy, the next country to hold the rotating EU presidency, marks a major effort to reset the EU agenda away from the budget cuts and tax squeezes that characterized the initial reaction to the eurozone debt crisis.

With much of Europe still struggling to return to sustainable growth and unemployment rates at record levels in many areas, pressure for a change of course and an easing in austerity was underlined by a surge in support for anti-EU parties in last month's European Parliament election.

The draft, which could still change before the summit on Thursday and Friday, calls for bold steps to create growth and jobs and to support deeper reform by individual member states. However it does not call for a change to the EU Stability and Growth pact or the bloc's 'fiscal compact' and contains few specifics.

"Given the persistently high levels of public debt, growth-friendly and differentiated fiscal consolidation must be continued, the document says.

"Recovery remains fragile and uneven and efforts must continue and be enhanced in order to strengthen Europe's capacity to grow and create jobs, it says.

The proposals form part of a wider deal under which center-left leaders agreed to support former Luxembourg Prime Minister Jean-Claude Juncker as the next president of the European Commission in exchange for policy agreements on growth and jobs.

Italian Prime Minister Matteo Renzi, strengthened by a triumphant result in last month's European election, has been one of the main movers in the process.

His undersecretary in charge of European affairs, Sandro Gozi said there was broad agreement on Italy's priorities.

"We think there is an excellent basis for the next six months because I think there is very wide support for our priorities and our methods, he told reporters.

He also said Italy would secure a heavyweight representative on the new European Commission which will be appointed later this year.

Renzi, a longstanding critic of rigid EU deficit rules who has called for renewal in both Italy and Europe, was a rare exception among government leaders, winning 40.8 percent of the vote, the best result for any Italian leader since the 1950s.

The draft also calls on the bloc as a whole to assume more responsibility for the southern Mediterranean migrant crisis faced mainly by Italy, Malta, Greece and Spain and step up measures to ensure energy security. [Reuters]

ekathimerini.com , Monday June 23, 2014 (15:56)  
IMF cautions Greece on early withdrawal from program
In Athens, NATO chief sees spike in Russian flights on border
Germany denies backing proposal for Greece to exit aid program
Boy, 13, dies after falling from fifth floor in Thessaloniki
Italy, Greece banks lead Europe decliners amid capital concerns
Italian and Greek banks led stock declines among the regions lenders after European Banking Authority Chairman Andrea Enria said stress tests completed last week arent foolproof and more m...
European stocks tumble as banks decline after Enrias comments
European stocks retreated, erasing earlier gains, as banks from peripheral euro-area nations tumbled. U.S. index futures and Asian shares also declined. The Stoxx Europe 600 Index fell 0.7 p...
Inside Business
SOCCER
Greece drops Samaras for Euro 2016 qualifier
Greece coach Claudio Ranieri has dropped striker Georgios Samaras from the national team after a dismal start to European Championship qualifying. Samaras, who plays for West Bromwich Albion...
BASKETBALL
Panathinaikos and PAOK retain perfect record
The third round of games in the Basket League over the weekend saw PAOK overcome the strong resistance of host KAOD at Drama, and Panathinaikos and Olympiakos inflict heavy losses on AEK and...
Inside Sports
COMMENTARY
Time is running out in Afghanistan
Thirteen years after the attacks on the Twin Towers and NATO's entry into the war in Afghanistan, things remain pretty much unchanged: Political instability and insecurity reign in the Cent...
COMMENTARY
Cool heads required
Its time for Athens and Nicosia to deal with the current situation in Cypruss Exclusive Economic Zone (EEZ), which a Turkish seismic research vessel has breached against international law,...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. IMF cautions Greece on early withdrawal from program
2. In Athens, NATO chief sees spike in Russian flights on border
3. Greece drops Samaras for Euro 2016 qualifier
4. Germany denies backing proposal for Greece to exit aid program
5. Boy, 13, dies after falling from fifth floor in Thessaloniki
6. Italy, Greece banks lead Europe decliners amid capital concerns
more news
Today
This Week
1. Greek euro dilemma is back as minister predicts volatility
2. Students hijack university senate meeting
3. Clientelism belongs to the past, says Mitsotakis
4. Over 1,500 buildings and vehicles damaged in flash floods
5. Peripheral banks lead European shares lower after positive start
6. European stocks tumble as banks decline after Enrias comments
Today
This Week
1. At least 11 banks to fail European stress tests, three in Greece, report says
2. Austrias creative bookkeeping beats Greece on secret debts
3. Cyprus to block Turkey's EU talks after EEZ violation
4. End of reason, end of humanity
5. Clean bill of health for Greek banks from stress tests
6. Samaras pledges action after flash floods in Athens
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2014, H KAΘHMEPINH All Rights Reserved.