Staying on track. In the debate opposing southern and northern Europe, the German view of austerity as the way to economic recovery is still a must. And this is confirmed in the conclusions of the meeting. “Fiscal consolidation and restoring financial stability need to go hand-in-hand with well designed structural reforms aimed at promoting sustainable growth, employment and competitiveness and the correction of macroeconomic imbalances.” Therefore, the aim of cutting budget deficits and of reforming Europe is maintained. In the end, the 27 barely mentioned the electoral defeat of the President of the Italian Council, Mario Monti, who had yet punctiliously applied Brussels’ method, especially in order to decompartmentalize the Italian labor market. Other European elections are weighing over the EU: that of the German chancellor, Angela Merkel, in September.
ral reforms aimed at promoting sustainable growth, employment and competitiveness and the correction of macroeconomic imbalances.” Therefore, the aim of cutting budget deficits and of reforming Europe is maintained. In the end, the 27 barely mentioned the electoral defeat of the President of the Italian Council, Mario Monti, who had yet punctiliously applied Brussels’ method, especially in order to decompartmentalize the Italian labor market.
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