The macroeconomic environment
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Economic and social progress and constant improvements in living and working conditions are fundamental objectives for the European Union. Experience over the last five decades shows clearly that economic integration (removing barriers to the free movement of goods, services, money and people) gives Europe a much better chance of creating jobs and sustainable growth. Much has already been achieved: the customs union, then the single market and, most recently, economic and monetary union (EMU).[1]
EMU and the euro were, however, stepping stones, not destinations. There is plenty of unfinished business. The EU needs to remove the remaining barriers that still confine research, public purchasing and the provision of financial services within national borders. Fostering the entrepreneurial spirit, innovation and an e-Europe will make a still stronger economy that can create quality jobs and protect social welfare systems.[1]
According to the Impact Assessment Guidelines of the European Commission, the following key questions are of particular importance when examining the impacts of policy initiatives on the macroeconomic environment:
- Evaluating impact on consequences of the option
- Evaluating impact on investment and proper functioning
- Evaluating impact on direct and indirect consequences of the option[1]
See also
References
This text is for information only and is not designed to interpret or replace any reference documents. The text is partially adapted from: