European Semester: MEPs urge EU countries to invest in growth-enhancing reforms
At its meeting on 13 Oct. 2014, the European Parliament's Economic and Monetary Affairs Committee emphasised that EU countries need to do more to put their EU economic policy reform pledges into effect at home. In the context of the European Semester, MEPs noted that only 10% of the European Commission's country-specific reform recommendations (CSRs) for 2013 were implemented in full and that little or no progress was made on 45% of them.
With regard to the next European Semester round, MEPs say that the policy of growth-friendly fiscal consolidation should continue, but that more emphasis should be placed on growth-enhancing reforms and policies. The €300 billion investment programme recently announced by Commission President designate Juncker was welcomed in this context. Amongst other measures required at Member States level, MEPs urge EU Member States to invest in research and innovation as agreed in the “Europe 2020” strategy.
The Economic and Monetery Affairs Committee report is to be debated and voted in the EP's October plenary session.