Strasbourg, 09/03/2015 (Agence Europe) - To foster the green shoots of economic recovery in the European Union, the Spring European Summit of 17 and 18 March will decide on economic priorities for the following eighteen months, explained on behalf of the Dutch Presidency of the Council of the EU Dutch defence minister Jeanine Hennis-Plasschaert to the European Parliament plenary on Wednesday 9 March.
The EU is experiencing a spurt in terms of employment but is not yet out of the crisis, explained Hennis-Plasschaert. She said recovery remains fragile and the Dutch Presidency put the focus on this when preparing for the European Summit. The European Summit will provide guidelines on the priorities and the Internal Market is the most important tool for providing economic benefits. The European Summit guidelines will focus on the digital economy, she added.
Euro Commissioner Valdis Dombrovskis said that the big macroeconomic indicators are returning to the black: “2016 will be the fourth year of recovery for the European Union as a whole, and we expect growth of 1.9%. Confidence is returning, and the euro area is no longer the bad pupil in class. Employment has risen to its highest level since 2008.” He added that he was sure that countries that are introducing reforms will make progress.
Dombrovskis described as encouraging the progress in investment, which he said was the EU's biggest weakness. The European Fund for Strategic Investments (EFSI) has mobilised more than €60 billion in additional investment in 22 countries since the launch of the Juncker Plan.
The Commissioner said member states were making progress, although at different rates from each other. Of the countries examined in depth, “six are found to have no imbalances, seven show signs of imbalances and five are experiencing excessive imbalances,” he said (see EUROPE 11507).
Europe is going in the right direction particularly in countries managed by leaders from the EPP. Deleveraging, growth, reduction in unemployment, all these countries refuse to be subordinate to anyone else, said Germany's Manfred Weber on behalf of the EPP grouping in the debate on the Internal Market, while Czech Pavel Telicka said tangible measures were needed on the rail package (ALDE). (Original version in French by Emmanuel Hagry)