Mutual Benefits: EU targets solidarity deals in 2014

EU leaders aiming at reaching deal next year on providing eurozone states funds to boost jobs and growth.

BRUSSELS: EU leaders are aiming at reaching a deal next year on providing eurozone states funds to boost jobs and growth, but the money would be tied to contracts similar to bailout agreements. According to a draft of the conclusions of next week’s summit, EU leaders are aiming to agree at their March 20-21 summit that European states could conclude voluntary contracts with the commission to conduct reforms and ‘associated solidarity mechanisms’ to financially help implement them. Since the beginning of the eurozone debt crisis there has been a debate between the states regarding where the obligations to make difficult reforms should be matched with help from European partners. The proposals could ‘cover a broad range of growth and job-enhancing policies and measures, including the performance of labour and product markets, the efficiency of the public sector, as well as research and innovation, education and vocational training’, according to the draft.

Published in The Express Tribune, December 15^th, 2013.

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