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1、L191/28ENOfficialJournaloftheEuropeanUnion23.7.2010RECOMMENDATIONSCOUNCILRECOMMENDATIONof13July2010onbroadguidelinesfortheeconomicpoliciesoftheMemberStatesandoftheUnion(2010/410/EU)THECOUNCILOFTHEEUROPEANUNION,labour-marketreformprioritiesfortheUnionasawhole.However,experience
2、showsthattheguidelinesdidnotsetclearenoughprioritiesandthatlinksbetweenthemHavingregardtotheTreatyontheFunctioningoftheEuropeancouldhavebeenstronger.ThislimitedtheirimpactonUnion,andinparticularArticle121(2)thereof,nationalpolicy-making.HavingregardtotherecommendationfromtheEu
3、ropeanCommission,(5)Thefinancialandeconomiccrisisthatstartedin2008resultedinasignificantlossinjobsandpotentialoutputandhasledtoadramaticdeteriorationinpublicfinances.HavingregardtotheconclusionsoftheEuropeanCouncil,TheEuropeanEconomicRecoveryPlan(3)hasneverthelesshelpedMemberS
4、tatestodealwiththecrisis,partlythroughacoordinatedfiscalstimulus,withtheWhereas:europrovidingananchorformacroeconomicstability.ThecrisisthereforeshowedthateconomicpolicycoordinationattheleveloftheUnioncandeliversignificant(1)TheTreatyprovidesthatMemberStatesaretoregardresultsi
5、fitisstrengthenedandrenderedeffective.ThetheireconomicpoliciesasamatterofcommoncrisisalsounderscoredthecloseinterdependenceoftheconcernandtocoordinatethemwithintheCouncil.InMemberStates’economiesandlabourmarkets.accordancewithTreatyprovisions,theEuropeanUnionhasdevelopedandimp
6、lementedpolicycoordinationinstrumentsforfiscalpolicy(theStabilityandGrowthPact)andmacro-structuralpolicies.(6)TheCommissionproposedsettingupanewstrategyforthenextdecade,theEurope2020Strategy(4),toenable(2)TheTreatyprovidesthatemploymentguidelinesandtheUniontoemergestrongerfrom
7、thecrisis,andtoturnbroadeconomicpolicyguidelinesaretobeadoptedbyitseconomytowardssmart,sustainableandinclusivetheCounciltoguideMemberStates’policies.growth.Fiveheadlinetargets,listedundertherelevantguidelines,constitutesharedobjectivesguidingtheactionoftheMemberStates,takingac
8、countoftheir(3)TheLisbonStrategy,launchedin2000,wasbasedonanr
