Wednesday, 9 June 2010

EU’s proposed BEPGs (broad economic policy guidelines)

Procedure and context were discussed in the blog entry Adopting EU broad economic policy guidelines (BEPGs) (9 June 2010).

The Ecofin Council approved a report on the BEPGs to the European Council 17 June 2010:

Report to the European Council on broad economic policy guidelines (document 10262/10; 20 pages)

The Recommendation on the BEPGs is linked with the coming Council Decision on the guidelines for employment policies. Legally, they are two distinct documents, but together they form the ‘Europe 2020 integrated guidelines’.

Here is an overview of these ‘Europe 2020 Integrated Guidelines’:

Guideline 1: Ensuring the quality and the sustainability of public finances

Guideline 2: Addressing macroeconomic imbalances

Guideline 3: Reducing imbalances in the euro area

Guideline 4: Optimising support for R&D and innovation, strengthening the knowledge triangle and unleashing the potential of the digital economy

Guideline 5: Improving resource efficiency and reducing greenhouse gases

Guideline 6: Improving the business and consumer environment and modernising the industrial base in order to ensure the full functioning of the internal market

Guideline 7: Increasing labour market participation and reducing structural unemployment

Guideline 8: Developing a skilled workforce responding to labour market needs, promoting job quality and lifelong learning

Guideline 9: Improving the performance of education and training systems at all levels and increasing participation in tertiary education

Guideline 10: Promoting social inclusion and combating poverty

The Council proposes that the BEPGs (Guidelines 1 to 6) are in force until 2014 without change. The member states design national reform programmes (NRPs) consistent with the ‘Europe 2020 integrated guidelines’.

Ralf Grahn