EU and growth: three pacts rather than one

The current european debates (Cyprus bailout, the Stability Pact, the EU budget) prompt to remind us that growth can be lastingly undermined when we disregard certain basic principles: this is the objective of this Viewpoint signed by the members of our Board of directors.

Poor growth prospects in a majority of European countries and the debates on bailing Cyprus out, on the implementation of the Stability Pact or on the adoption of the EU budget make it more necessary for us to highlight the obvious: while growth cannot be conjured up by decree, it can certainly be lastingly undermined when we disregard certain basic principles that underpin pacts we need to honour:

• Consolidating the Financial Confidence Pact;
• Implementing the Stability Pact in a More Realistic Fashion;
• Devising a Youth Pact via the European Budget.

These are the issues dealt in this Viewpoint signed by the members of our Board of directors.