Press Release: New action for growth, governance and stability

The European Commission is accelerating its efforts for economic renewal, with moves to address three interwoven challenges facing the EU and the euro area in particular: a divergent but generally lacklustre growth and employment performance; insufficiently coordinated and disciplined budgetary policies; and unstable sovereign debt markets suffering from a lack of liquidity.

The package contains four elements: the 2012 Annual Growth Survey setting out the economic priorities for the coming year; two Regulations to tighten economic and budgetary surveillance in the euro area; and a Green Paper on Stability Bonds.