EU countries need to do more to put their EU economic policy reform pledges into effect at home, especially in the euro area, urged Economic and Monetary Affairs Committee MEPs on Monday. Noting that only 10% of the European Commission's country-specific reform recommendations (CSRs) for 2013 were implemented in full and that little or no progress was made on 45% of them, MEPs also pressed the Commission and the Eurogroup President to see that they are put into practice.
"The priorities of the Italian Council Presidency were outlined to the various parliamentary committees by Italian ministers in a series of meetings held in July and September."
Economic recovery is losing momentum; European Central Bank President Mario Draghi told the Economic and Monetary Affairs Committee on Monday, citing slowing growth in the second quarter and less than encouraging economic indicators in the summer. "The weak credit curb, high unemployment, political and geopolitical tensions could work against the necessary confidence the ECB is trying to build", he explained.