The European Commission has recommended different ways to boost the socio-economic condition of their member countries. The recommendations are of a mixed bag and if you want to know the highlights of those recommendations, then keep on reading below.
The French economy is a bit damning. The measures given by the fiscal consolidation isn’t enough to make sure that the country will be able to meet its economic target. There are areas of the French government wherein the socialist government will not be pleased. The commission also stressed the cost of French labour stating that the firm’s profitability has reduced. The European Commission highlighted the current flaws in the economy of French particularly the government’s lack of strategy.
The report of the Commission stressed that Germany should improve its condition to support domestic demand by simply reducing high taxes and the contributions to social security, especially for people with low wage. The Commission also asked the country to come up with a more ambitious measure to stimulate competition, especially in the services sector, educations, infrastructure, and research.
The Commission is somewhat in doubt on the latest budget forecast of Italy stating that the budgetary targets are not supported by detailed measures. By coming up with a detailed budget measures, the domestic debate between Matteo Renzi; Italian prime minister and his critics will be revived.
The European Commission suggested that Spain should reinforce their 2014 budgetary strategy and that the country should thoroughly specify the underlying measures for 2015 and beyond.