Brussels, 14/12/2007 (Agence Europe) - In the light of the recent developments in the situation on financial markets, the heads of state and government feel that the EU's economic fundamentals remain sound, with sustained economic growth expected for the future. Nonetheless, continued follow-up of financial markets and the economy is “crucial”, they say, as “uncertainty” remains. They stress in this respect the importance of the work programme drawn up by October's Ecofin Council with a view to: - strengthening “transparency” for investors, markets and regulators; - improving standards for assessment, the prudential framework, risk management and control of the financial sector; - and revising market
functioning, including the role of rating agencies.
Welcoming the actions undertaken to ensure financial stability, the Council states it will look at these issues again during its next meeting in March 2008. It goes on to recall the recent agreement on financing, governance and the contract-awarding process of the Galileo programme.
Welcoming the Commission's presentation of its assessment report on implementation of the revised Lisbon strategy on growth and employment, the European Council calls for a new round of this strategy to be launched during the Spring summit. This new round will focus on the implementation and obtaining of results in line with the integrated guidelines, themselves geared to the following themes: research and development; corporate environment; education, training and employment; energy and climate change. The role of the regions in this approach must be increased, the Europe Council states. It also welcomes the setting in place of the European Institute of Innovation and Technology and the joint technological initiatives. It stresses the special importance of lifelong training and mobility for European citizens. Finally, it endorses the Culture Agenda which will contribute to enhancing the visibility of European action in this field.
The heads of state and government consider there must be continued improvement in the environment in which companies evolve, especially the small and medium-sized enterprises (SMEs). They welcome the Commission's intention to present a “Small Business Act for Europe” in 2008 in the aim of releasing the full growth and employment potential held by SMEs. Recalling that they aim to reduce the burden of red tape brought about by European legislation by 25% by 2012, they urge member states that have not yet done so to establish comparable national objectives in 2008.
EU leaders recalled the importance of modernising public administration with a view to making it more efficient, and of improving public finances.
The European Council endorses the agreement reached in early December on the common principles of flexicurity during the Employment/Social Policy Council. It calls on member states to bear these principles in mind when they develop and implement their national specific policies, and stresses the role of the social partners in the conception, implementation and follow-up of flexicurity policies. The European Council considers active insertion policies should involve integration in the labour market, labour mobility, motivation to actively seek employment, adequate income support and quality social services, which are also accessible and efficient. The Council also welcomes the results of the European Year on Equal Opportunities. Aware of the specific situation of the Roma in Europe, it invites the EU member states to do everything possible to improve their integration and calls on the Commission to examine the available policies and instruments before submitting a report by the end of June 2008. (M.B./G.B.)