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European semester 2012: Country Specific Recommendations

European semester 2012: Country Specific Recommendations. 30 May package. - « Chapeau » Communication on Action for Stability, Growth and Jobs - 27 Country Specific Recommendations + 1 for Euro-area - 27 analytical Staff Working Documents + 1 for Euro-area

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European semester 2012: Country Specific Recommendations

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  1. European semester 2012: Country Specific Recommendations

  2. 30 May package - « Chapeau » Communication on Action for Stability, Growth and Jobs - 27 Country Specific Recommendations + 1 for Euro-area - 27 analytical Staff Working Documents + 1 for Euro-area - 12 In-depth studies (under new Macroeconomic Imbalances Procedure) - 2 Recommendations to bring DE and BG out of EDP - 1 Recommendation to lift HU Cohesion Fund suspension - 27 « thematic fiches » comparing Member States’ performance

  3. Action for stability, growth and jobs EU-level action for growth: - Europe 2020 strategy - Economic and Monetary Union (SGP, financial backstops, banking sector, deepened EMU) - Internal Market (EU patent, services directive, Single Market II proposal)

  4. Action for stability, growth and jobs - Human capital (job-rich recovery, skills, mobility) - External sources of growth (FTA) - EU funding of the growth that Europe needs (MFF, structural funds, project bonds, EIB capital increase, …)

  5. Action for stability, growth and jobs Member State level action for growth: - National reform programmes, end April 2012; Reports from MS on national consultation process: AT, SE, BE, FR, NL, BG, CY, DK, EE, HU, LU, SK, PL, RO reported to have had a formal and apparently good consultation process. For AT, SE, BE, FR, NL contributions from social partners/stakeholders are annexed to the NRP LT, SI, FI seemed to have only had a reduced consultation process CZ, DE, UK seemed to have had no formal consultation process (but may have informal ones) ES, MT had no consultation process - Stability or Convergence programmes - Commission Country Specific recommendations

  6. Action for stability, growth and jobs 2012 Country Specific Recommendations – overview 1) Pursue differentiated growth-friendly fiscal consolidation: - Deficits are falling, but: - Improve growth-friendliness of fiscal consolidation; - Use available fiscal space in countries without excessive deficits - Pursue pension reform - Shift tax burden from labour to environment and consumption, reduce tax exemptions - Fight shadow economy

  7. Action for stability, growth and jobs 2) Restore normal lending to the economy: - Complete restructuring of banking sector, while avoiding excessive deleveraging - Promote access to finance for SMEs

  8. Action for stability, growth and jobs 3) Promote growth and competitiveness: More efforts are needed to: - Open up services sector and public procurement markets - Improve performance of network industries - Improve business environment - Promote R&D investment and innovation - Take steps to meet the 2020 energy targets

  9. Action for stability, growth and jobs 4) Tackle unemployment and social exclusion: - Fight youth unemployment - Reduce early school leaving, improve training and develop apprenticeships - Increase labour market participation (e.g. of women, older workers, vulnerable groups) - Align development of wages with productivity

  10. Action for stability, growth and jobs 5) Modernise public administration: - Improve administrative capacity - Enhance efficiency of civil justice systems (backlogs, length of judicial proceedings) - Improve quality of services (eg through e-government) - Tackle corruption

  11. EU recommendations for national action in 2012/13 Note: Recommendations proposed by the Commission in May 2012 for 2012-2013. For IE, EL, PT and RO, the only recommendation is to implement existing commitments under EU/IMF financial assistance programmes. More information at: http://ec.europa.eu/europe2020/index_en.htm

  12. Commitments under the Euro Plus Pact Note: this table summarises commitments taken by Member States participating in the Euro Plus Pact since Spring 2011.

  13. Are we likely to meet our targets for 2020? EMPLOYMENT 75% of the population aged 20-64 should be employed INNOVATION 3% of the EU's GDP should be invested in R&D CLIMATE / ENERGY A reduction of CO2 emissions by 20% A share of renewable energies up to 20% An increase in energy efficiency by 20% EDUCATION The share of early school leavers should be under 10% At least 40% of the younger generation should have a degree or diploma POVERTY 20 million fewer people should be at risk of poverty

  14. For more information http://ec.europa.eu/europe2020/index_en.htm

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