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EU Story 08-01 |
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EU hails 'historic' economic growth
results By Honor Mahony EUOBSERVER / BRUSSELS - The European Commission announced on Tuesday that its almost eight-year old strategy designed to make Europe's economy more competitive is finally showing results. "I am very happy to say (...) that the Lisbon strategy for growth and jobs is now working," said commission president Jose Manuel Barroso, referring to an economic growth plan signed off by EU leaders in 2000. "We have the best results since the 1980s in terms of job creation," he continued. According to European commission figures, 6.5 million jobs have been created in the last two years and unemployment is down by seven percent. It also says that EU budget deficits are down from 2.5 percent of GDP in 2005 to just over one percent in 2007. "These are historic results. We never had this in Europe," said Mr Barroso, adding that ""We are much further along the road to a prosperous Europe than we were in 2005." Referring to the 13-nation eurozone, the commission says that the potential estimated growth rate of GDP has grown by 0.2 percent since 2005 to around 2.25 percent in 2007. Brussels also expects that another five million jobs will be created by the end of 2009. But it warned national governments against becoming complacent pointing out that the economic and reform progress among individual member states differ with some doing better than others. As a general point, the commission says that all member states need to improve access to life-long education as well as internet access in schools. The Brussels executive is also set to initiate a series of laws as part of its drive for better economic performance including an EU law on small businesses, the liberalization of energy markets and an EU patent law. It will also tackle a series of energy-related issues such as setting out how member states should achieve the greenhouse gas-reducing commitments they set themselves in March; an energy tax law as well as energy efficiency in buildings. Source |
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