Communication from the Commission – A roadmap to stability and growth

What the EU most needs now is to deploy all the necessary means to deliver future stability and growth at once and to the full. Many far reaching decisions have been made in the past eighteen months. In order to restore confidence in the Euro area and the EU as a whole, these decisions need to be integrated and completed. The crisis threatens to become systemic. A solution to break the vicious circle between doubts over the sustainability of sovereign debt, the stability of the banking system and the EU's growth prospects is more necessary than ever.

The elements presented in this paper are interdependent and must be implemented together as quickly as possible to have their intended effect. No single element by itself will be sufficient to resolve the current crisis. Only taken together and simultaneously will they convincingly demonstrate that the EU can:

1. Give a decisive response to the problems of Greece
2. Enhance the Euro area's backstops against the crisis
3. Strengthen the banking system, namely through recapitalisation
4. Frontload stability and growth enhancing policies
5. Build a more robust and integrated economic governance

EUR-Lex: COM(2011)669: Follow the progress of this document through the decision-making procedure http://eur-lex.europa.eu/legal-content/EN/HIS/?uri=COM:2011:669:FIN

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