European Union summit in Brussels on May 23

European Union summit in Brussels on May 23

European Union summit in Brussels to begin today. European Council President Herman van Rompuy said controversial ideas should be on the table, and there should be no taboos. The new French president Francois Hollande to spells out his plans for growth.

EU must take action to reduce public spending and boost economic growth at the same time, say 47 % of respondents. Survey further refers to preferences, 25% say priority must go to measures to stimulate the economy, while 23% say it must go to those that reduce public spending.


OECD on Tuesday the  Paris-based organization pointed out that regions have been recovering at different speed worldwide, with the United States and Japan taking lead over the sluggish euro area, while large emerging economies saw a moderate upswing.Gross Domestic Product (GDP) growth across the OECD is projected to slow from an annual rate of 1.8 percent in 2011 to 1.6 percent in 2012, before recovering to 2.2 percent in 2013, according to the outlook.

Five EU targets for 2020

• Employment: at least 75% of 20-64 year-olds employed
• R&D/innovation: 3% of the EU’s GDP invested in R&D/innovation
• Climate change/energy: greenhouse gas emissions 20% lower than in 1990 (or 30% if conditions are right); 20% of energy from renewable sources; 20% increase in energy efficiency
• Education: reduce school drop-out rates to below 10%; at least 40% of 30-34-year-olds completing third level education
• Poverty/social exclusion: at least 20 million fewer people in or at risk of poverty and social exclusion

They are translated into national targets and measured by eight indicators.

Seven flagship initiatives

• Digital agenda for Europe: creating sustainable economic and social benefits from a digital single market based on fast, secure internet and interoperable applications.
• Innovation Union: turning ideas into jobs, green growth and social progress with action to support innovation and innovative businesses
• Youth on the move: mobility programmes offering young Europeans the opportunity to study, train, work or start a business in another EU country
• Resource efficient Europe: supporting the shift towards a resource-efficient, low-carbon economy that offers opportunities for sustainable growth
• An industrial policy for the globalisation era: maintaining and supporting a strong, diversified and competitive industrial base in Europe, offering well-paid jobs in a less carbon intensive economy
• An agenda for new skills and jobs: concrete actions to improve flexibility and security in the job market, ensure people have the right skills for today’s jobs, improve the quality of jobs and the conditions for job creation
• European platform against poverty: coordinating national actions by identifying best practices and promoting learning, establishing EU-wide rules and making funding available.Media agencies