The economic and financial crisis has inflicted severe disruptions on the European and global economy. This has been reflected in a significant retrenchment of private investment, mounting public indebtedness and rising unemployment.

Since mid-2009, a tentative recovery is under way but the momentum is fragile and needs to be consolidated. Decisive policy measures will be needed particularly in view of stimulating investment entrepreneurship and innovation.

This will require a comprehensive EU growth strategy tightly linked to competiveness, fiscal sustainability, improved access to finance, greater market integration, skills and adaptability.

Concrete actions must be oriented to raise EU’s growth potential from 1% to 2% over the next five years. This could translate over the period 2010 to 2014 in around 6.5 million new jobs and savings of more than 450 billion euro in public debt levels.

All available instruments at EU level must be coordinated and mobilised to better reflect priorities for reform and show the pathway to competitiveness and sustainable growth.

In its Economic Outlook, Post-Lisbon strategy recommendations and Reform Barometer, BUSINESSEUROPE emphasises the need to address structural weaknesses and increase the resilience of the economy in an intelligible manner. Concrete proposals reflecting the priorities of the business community are put forward. Read more

The financial system needs to be fixed as a matter of urgency. A sound level of financing and appropriate evaluation of risk are essential pre-conditions for a sustained economic revival. The business perspective on financial market reforms, financial sector restructuring and targeted measures to support companies’ access to finance is presented in this section. Read more

Strong commitments to restore the health of public finances and implement comprehensive strategies to reduce public indebtedness will be key for an investment-led recovery in Europe. This implies new thinking on the effectiveness of public administration, public investment, social systems and tax burdens. Tax obstacles to cross-border activity must be addressed. These impose unnecessary regulatory and administrative burden on businesses, creating barriers to the functioning of the Internal Market, and thus hindering economic growth. Read more

An effective use of the EU budget is paramount in the post-crisis environment. Eu funds should be targeted at those areas where European added-value is clearly identified. Europe cannot afford to miss the opportunity to reform its budget and to reconsider EU priorities more fundamentally. Read more