Press Release: Commission calls on euro-area members to strike while the iron is hot

Over the last twelve months, the euro-area economy has gone from strength to strength. The euro-area grew by 2.7% in 2006, its fastest growth rate since 2000, and well-above its long-term average. Employment growth accelerated to around 1.5% in 2006, yielding an increase of close to 2 million new jobs and inflation remained around 2%. These undoubted achievements put EMU on a strong footing to face the challenges which still lie ahead. These include raising potential growth, enhancing adjustment to economic shocks, putting Europe's fiscal house in order and ensuring a successful enlargement of the euro area.