Brussels, 10/05/2002 (Agence Europe) - On the initiative of Commissioner Pedro Solbes, the European Commission must approve, next Tuesday, the third report on Member State public finances for 2002. The report should ask France, Portugal, Germany and Italy to carefully stick to the aims of the Stability and Growth Pact, namely a budgetary positions "close to the equilibrium or surplus" at the latest in 2004. France, which seems to want to push back the cut-off date of 2004 to bring its budget back to equilibrium (its deficit could reach 2.1% in 2002, while the government of Lionel Jospin wanted 1.5%), and Portugal, whose public deficit is dangerously flirting with 3%, should be especially concerned with the Commission's warning.
Moreover, the Commission should also adopt a report on convergence concerning Sweden. It should recall that this country easily fulfils the three economic convergence criteria (price stability, situations of public finances and interest rate convergence), but does not always satisfy the exchange rate criteria.
The agenda of the College meeting next week also foresees the adoption of a Communication on productivity in Europe, or the way of ensuring a maximised competitiveness of European economies.