Recommendation 2000/517 - 2000/517/EC: Council recommendation of 19 June 2000 on the broad guidelines of the economic policies of the Member States and the EC - Main contents

official title

 

Legal instrument	Recommendation
Number legal act	Recommendation 2000/517
Original proposal	COM(2000)214
CELEX number i	32000H0517

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2000/517/EC: Council recommendation of 19 June 2000 on the broad guidelines of the economic policies of the Member States and the Community

Official Journal L 210 , 21/08/2000 P. 0001 - 0040

Council recommendation

of 19 June 2000

on the broad guidelines of the economic policies of the Member States and the Community

(2000/517/EC)

THE COUNCIL OF THE EUROPEAN UNION,

Having regard to the Treaty establishing the European Community, and in particular Article 99(2) thereof,

Having regard to the recommendation from the Commission,

Having regard to the discussion by the European Council on 19 June in Santa Maria da Feira;

Whereas a resolution on the recommendation from the Commission was adopted by the European Parliament,

RECOMMENDS:

• I. 

  GENERAL ECONOMIC POLICY GUIDELINES

• 1. 

  INTRODUCTION

Globalisation and the prospect of a new knowledge-driven economy present major opportunities for the European Union and its citizens. To take advantage of these opportunities, there is a need to accelerate the ongoing transformation of the European economy. To this end, these broad economic policy guidelines (BEPGs) build on and extend the existing strategy and give operational content to the conclusions of the Lisbon Summit. In particular, they focus on the medium and long-term implications of structural policies and on reforms aimed at promoting economic growth potential, employment and social cohesion, as well as on the transition towards a knowledge-driven economy. The Cardiff and Luxembourg processes will deal with their respective subjects matters in more detail.

The broad economic policy guidelines

The Treaty requires Member States to conduct their economic policies with a view to contributing to the achievement of the objectives of the Union and in the context of the broad economic policy guidelines (BEPGs) (Article 98). It also requires Member States to regard their economic policies as a matter of common concern and to coordinate them within the Council (Article 99). To this end, since the start of Stage 2 of economic and monetary union, the Council, on a recommendation of the Commission, has adopted each year the BEPGs. At the centre of the economic policy coordination process, they provide the framework for the definition of the overall policy objectives and orientations for the Member States and the Union. The BEPGs, acquire an increased significance in view of the Council report entitled "Economic policy coordination" endorsed by the Helsinki European Council, and the Lisbon special European Council on employment, economic reform and social cohesion, in which the European Council decided that it will hold an annual spring meeting devoted to economic and social questions.

In order to allow the European Council to give effective political guidance in a timely manner at its annual spring meeting and to ensure that the Ecofin Council is able to draw on the work of other Council formations, the organisation of the preparation of the BEPGs will be modified.

From this year on, the BEPGs will be forwarded to other relevant Council formations for them to assume responsibility for implementation in their respective areas. At the same time, these Council formations will be invited to pursue work with a view to the formulation of the BEPGs for the coming year, and to make their contributions available by the end of January of the following year.

The Commission, in the light of this work and drawing, inter alia, on the stability and convergence programmes, the joint employment report and the Cardiff reports, as well as its own assessment of the implementation of the BEPGs, will prepare the orientation debate at the Ecofin Council meeting which precedes the annual spring meeting of the European Council.

The Ecofin Council will draw up, on this basis, a paper setting out the key issues on which the European Council will be invited to focus its...

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