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EU countries urged to implement policies to boost macroeconomic stability

Xinhua, February 25, 2016 Adjust font size:

EU member states should implement policies that support macroeconomic stability and confidence, European Commission Vice-President Valdis Dombrovskis stressed Wednesday.

Dombrovskis made the remarks following a meeting of the College of Commissioners during which an orientation debate on the European Semester, the EU's annual economic policy coordination, was held.

The EU needs to continue tackling persistent vulnerabilities in some countries, such as high public and private debt, the Commission vice-president said.

This means these EU member countries need to implement reforms to stimulate investment and reinforce productivity, among others, he said.

"The EU is still going through a moderate recovery" with 1.9 percent growth expected for the EU and 1.7 percent for the euro area for this year, he said, adding there were risks for the forecast, primarily due to the deteriorating external environment.

"Moreover, we have seen a marked increase in financial market volatility and risk aversion," Dombrovskis said.

He said that while progress had been made on a number of fronts, structural weaknesses exposed by the economic crisis still needed to be fully addressed by some EU member states. Endit