Council commits anew to growth and jobs

European leaders agreed yesterday on immediate actions to help promote growth and create jobs in Europe, without compromising the fiscal consolidation required to ensure financial stability. At an informal meeting of the members of the European Council in Brussels, the leaders discussed employment and economic policies. Agreeing that efforts should focus on areas with the most growth potential, and without compromising the fiscal consolidation required to ensure financial stability (see new Treaty), the leaders set out 12 measures, listed under three immediate priorities: 1/ Stimulating employment, especially for young people 2/ boosting the financing of the economy, in particular SMEs, and 3/ completing the Single Market. Smart Regulation initiatives are not expressly identified in this short list, but two currently under discussion items will interest us: 1/ the reduction of unjustified administrative and regulatory burdens on SMEs (under priority 2) and the simplification of accounting requirements and public procurement rules (priority 3).