Within the framework of renewed economic policy coordination in the EU, the so-called European semester started to be implemented in January 2011. The new cycle of economic governance should enable a more transparent and effective coordination of budgetary and structural policies at the level of individual Member States and the entire EU, which should also be more closely related to the procedures in the Stability Pact. In the light of the significant deterioration of public finances during the crisis, most recommendations pertain to their stabilisation. The Commission thus proposed as many as 45 recommendations in total, calling for more ambitious measures in the area of fiscal consolidation and for a reduction of the general government deficit in line with the commitments of the Stability Pact. In its recommendations for the labour market, the EC places special emphasis on efforts to increase labour market participation of the population and reduce structural unemployment and unemployment of young people.
selected topics Slovenian Economic Mirror, June 2011 29 Selected Topics Ove
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