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ECONOMIC OUTLOOK: COMMISSION HOPING FOR RENEWED GROWTH.

The Communication consists of an interim report for the October 16-17 European Council. The estimated impact of mobilising the resources proposed is between 0.6% and 1% of GDP. Moreover, according to the Commission if the Member States meet the target of allocating 3% of GDP to R&D, some 400,000 extra jobs are likely to be created each year.

The Commission is proposing a detailed road map of actions and a series of recommendations to the aforementioned European Council. The aim is to integrate the various EU policies along with European and national resources to guarantee the implementation of this initiative within a tight timeframe.

Romano Prodi is keen to see a commitment from Heads of State and Government on the scope and magnitude of the initiative. Such an agreement might be used as a mandate and a guideline for all the Council configurations implementing the measures proposed.

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Publication:European Report
Article Type:Brief Article
Geographic Code:4E
Date:Oct 4, 2003
Words:150
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