The European Commission today presented a number of country-specific recommendations in the framework of the so-called European Semester, a new system of ‘economic governance’ under which eurozone countries will be obliged to present their budgetary and economic policies to the Commission for approval. The aim is to ensure that these should be coordinated in advance of implementation and that they are in line with both the Stability and Growth Pact and the Europe 2020 strategy. What is not new, however, as SP Euro-MP Dennis de Jong points out, is that ‘the European Commission is sticking to its austerity policies despite it now being clear that these will only make the economic crisis worse. Not only that, but they want to force through their long-cherished dream of Americanising the labour market in Europe, while for small- and medium-sized businesses also they have nothing good to offer.’
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