Brussels, 18/01/2005 (Agence Europe) - On Tuesday, the ECOFIN Council took note of and endorsed the Economic Policy Committee's annual report on structural reforms (for 2005) that echoes the Kok Report on the mid-term review of the Lisbon Process by highlighting the urgent need to implement reforms, despite some progress described by the EPC over the past twelve months. Using the EPC report as a basis for discussion, and with one eye on the Spring European Council of 22/23 March 2005, the EU's finance ministers stressed the need to prioritise action to stimulate growth, employment and better productivity, and focus on dealing with the ageing population. The EPC report identifies seven priority areas for reinforcing the Lisbon Strategy: 1) boosting knowledge and innovation; 2) continuing work on the single market; 3) creating an adequate climate for enterprise; 4) making workers and enterprises more adaptable and labour markets more flexible, based on social cohesion; 5) taking action to respect the environment; 6) ensuring sustainable public finance; and 7) opening up to the rest of the world by encouraging direct foreign investment into the EU, ensuring the EU is attractive to business.
Consensus ruled the day during the ministers' discussion of the Stability Programmes of Austria, Luxembourg and the Netherlands and Sweden and the Czech Rep8ublic's Convergence Programmes (see Europe of 12 January, p.13).