The EU Economy 2004 Review

The EU Economy 2004 Review presents the assessment of recent and prospective developments in the economy of the European Union as well as an examination of a number of economic issues which are of particular importance for economic policy. This document is an integral element of the Commission's ongoing surveillance of economic developments and policies in the Member States, the euro area and the EU.

Individual chapters cover: 1. Macroeconomic development in the euro area; 2. Catching-up, growth and convergence of the new Member States; 3. Labour markets in the EU: an economic analysis of recent performance and prospects. 4. The Lisbon strategy and the EU's structural productivity problem; 5. The link between product market reforms and productivity: direct and indirect impacts; 6. Protecting the environment and economic growth: trade-off or growth-enhancing structural adjustment; 7. Ongoing issues in EU economic surveillance

The Review contributes to the forthcoming Mid-Term Review of the Lisbon Strategy by providing in-depth analysis of the key policy areas and possible trade-offs. The Review argues that reforms are needed to allow new innovative firms to become established and grow in order to address the EU's structural productivity problem. The report also finds further evidence to dispel the myth that gains in employment can only be made at the expense of productivity.

European Commission: DG Economic and Financial Affairs: The EU Economy: 2004 Review http://ec.europa.eu/comm/economy_finance/publications/european_economy/2004/ee604fullreport_en.pdf

European Commission: Press Release: IP/04/1298 http://ec.europa.eu/comm/economy_finance/publications/european_economy/2004/ip041298en.pdf

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