Brussels, 08/07/2008 (Agence Europe) - With their examination, on Monday 7 July, of the competitiveness differences that exist in the eurozone economies, EU15 finance ministers approved certain proposals set out in the Commission communication on the 10 years of Economic and Monetary Union (EUROPE 9656). From among the ideas evoked by the Commission for improving economic coordination and surveillance, the eurozone finance ministers above all took on board that aimed at following the evolution of eurozone competitiveness more closely. As Joaquin Almunia, its president explains, the Eurogroup “will not carry out a precise and detailed country-by-country examination of competitiveness every year but every two years unless in some countries there is an obvious slide in competitiveness compared to the other countries of the zone”. According to Mr Almunia, it is “better to use instruments available to us” including the preventive chapter of the Stability and Growth Pact, while noting other macro-economic aspects over and beyond budgetary policy alone. The discussion on the Commission's communication will continue in September during the informal meeting in Nice, before the Ecofin Council adopts its conclusions with a view to the European Council in October. (A.B./transl.jl)