Brussels set to urge more cuts

The European Commission adopted its first Annual Growth Survey on the 12 January 2011.

The Annual Growth Survey (AGS) charts where Europe should be heading in the next year, with ten pressing actions focussed on macro-economic stability and fiscal consolidation, structural reforms and growth-enhancing measures.

The Annual Growth Survey is the start of the first 'European Semester' which changes the way governments shape their economic and fiscal policies. Once agreed by the European Council, Member states will reflect these recommendations in both their policies and national budgets. For the first time ever, Member States and Commission will therefore jointly discuss macro-economic stability, structural reforms and boosting growth measures in a comprehensive way.

EUObserver, 12.1.11: Brussels demands yet more austerity from member states http://euobserver.com/9/31632

EurActiv, 12.1.11: EU sets yearly targets for growth in member states http://www.euractiv.com/euro-finance/eu-sets-yearly-targets-growth-member-states-news-501188

European Commission: Press Release: IP/11/22: EU economic governance: Commission sets the yearly priorities for EU growth http://europa.eu/rapid/pressReleasesAction.do?reference=IP/11/22&format=PDF&aged=0&language=EN&guiLanguage=en

European Commission: DG Economic and Financial Affairs: News, 12.1.11: Commission publishes Annual Growth Survey http://ec.europa.eu/economy_finance/articles/eu_economic_situation/2011-01-annual-growth-survey_en.htm

ESO: Background information: EU pledges large fines for fiscal sinners http://www.europeansources.info/record/eu-pledges-large-fines-for-fiscal-sinners/

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