The European Commission recently released
its European Semester 2017 assessment, suggesting that many European Union
countries have improved economically in the past year.
The recently released assessment, including
27 country reports for member states except Greece, due to its dedicated
stability support program, shows that the countries are progressing towards
mitigating economic challenges from lingering effects of the economic crisis
and structural weaknesses.
The analyses are conducted by the Commission of
Member States and show that boosting investment, pursuing structural reforms
and sound budgetary policies have been successful. Based on moderate growth and
positive economic indicators like employment and wage increases, the commission
has identified the risk of poverty and income and opportunity inequality as
issues that will need to be addressed. In-depth reviews included in some of the
reports also revealed correction of current account deficits and reductions in
stocks of private, public and external debt.
At a recent meeting, the
European Commission
saw the body report on fiscal compact, which, in response to the financial
crises, holds 22 member states to increased fiscal discipline and its transposition
into international law. Finally, the commission discussed reception of the
Polish response to the commission’s recommendation and the initial steps in
preparing a white paper on the future of Europe.
