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European Council Conclusions

EU News 136/2013

14/15 March 2013

Over recent years we have done much to respond to the pressing challenges posed by the financial and sovereign debt crisis, with the aim of paving the way for a return to sustainable job-creating growth and moving towards enhanced economic governance at both EU and euro area levels. Much has been accomplished, despite some remaining uncertainties in the financial markets. However, the stagnation of economic activity forecast for 2013 and the unacceptably high levels of unemployment emphasise how crucial it is to accelerate efforts to support growth as a matter of priority while pursuing growth-friendly fiscal consolidation. The European Council had a comprehensive discussion on the economic and social situation and set the orientations for the economic policy of the Member States and the European Union in 2013. The focus should be on the implementation of decisions taken, in particular as regards the Compact for Growth and Jobs. Particular priority must be given to supporting youth employment and promoting growth and competitiveness. The European Council will return in June to the assessment of policies being defined at national level to implement these priorities as well as to the implementation of the Compact for Growth and Jobs. It agreed that over the coming months it would discuss specific themes with a high potential for delivering growth and jobs. It also took stock of ongoing work on deepening the Economic and Monetary Union (EMU) with a view to its meeting in June.

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European Council Meeting 2013/03/15. Photo Credit: The Council of the European Union URL