Other information: Economic and structural reform in the EU

Other information:

Economic and structural reform in the EU. The Commission has published a report on economic and structural reform in the EU, which follows a request from the European Council, Cardiff in June 1998 for reinforced economic policy co-ordination to ensure the smooth operation of EMU. The main message is that structural reforms have an important part to play in the fight against unemployment and that their impact can be increased if all Member States act together to ensure a coherent approach. In addition, the Commission highlights the need to take account of the interaction between measures to improve the operation of markets for goods, products and capital and macro-economic policies and to maximise the benefits of the single market. The report also highlights the need for reform of tax and benefit systems to improve incentives to create and take up jobs, and for action to boost labour market flexibility and to promote investment in human capital. The report underlines the urgent need to remove the remaining obstacles to development of a pan-European risk-capital market which would benefit SMEs. Finally, the report points to the need to foster EU tax co-ordination and restructure public finances to prepare for the budgetary consequences of ageing.
Source: Press Release (European Commission), IP/99/114 (16.2.99)

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