Economic forecasts for Europe are looking a little more optimistic, but the measures put in place by the EU to tackle stagnant economic growth and huge European unemployment (deregulatory structural reforms, the Juncker investment plan and the European Central Bank’s quantitative easing) are not satisfactory. This is the conclusion of the first chapter of the joint ETUI/ETUC’s annual analysis of the state of ‘working Europe’ which will be officially launched on Monday 13 March in Brussels.
As usual, the Benchmarking working Europe’ report analyses the European Union’s policies in the areas of macroeconomic policies, labour market and social developments, wages and collective bargaining, and social dialogue and workers’ participation with the help of statistical and comparative data taken from institutional sources.
The subtitle of this year’s publication is ‘overcoming cleavages across the EU?’ raising questions about the effectiveness of current policies to deal with the economic and social divergences within the European Union.
Here are the main findings of the first chapter on the EU’s macroeconomic policies (read the full PDF chapter for more analysis and all the statistical indicators):
‘The European Union is emerging from the crisis that hit almost nine years ago, but only slowly, with only a little help from minor policy changes and leaving deep cleavages within and between countries. A new policy approach is urgently needed that will allow increased investment and expansionary policies in the countries that need them the most’, said ETUI senior researcher Martin Myant.
Bart Vanhercke, David Natali and Denis Bouget