President of the Republic of Lithuania

Europe must be more committed to implementing economic growth measures


Thursday, March 14, Brussels - President Dalia Grybauskaitė, currently attending a European Council summit, has underlined that the European Union devised a number of instruments to boost economic growth and competitiveness, but delays their implementation.

The heads of state and government of 27 EU member states, gathered in Brussels, took stock of the economic situation in Europe and discussed the overall progress in implementing the economic growth measures designed to restore faster Europe's competitiveness and exploit better the potential of the European single market.

According to the President, although the economy in Europe is gradually reviving, with a three-percent growth - one of the largest - projected in Lithuania this year, yet the overall situation in the EU remains complicated.

"We cannot delay any longer. The European Union is aware of a number of measures to address the problems, but it is very slow to implement them. Lack of commitment, slow decision-making and complex procedures do not allow Europe to move forward rapidly. EU member states must finally demonstrate political will and agree as soon as possible on the necessary steps to stimulate the economy, to ensure competitiveness and help in the fight against unemployment," the President said.

Dalia Grybauskaitė noted that it was necessary to implement immediately the five underlying priorities agreed in December 2012: responsible financial policy, providing business with more favorable borrowing conditions, promoting competitiveness, tackling effectively unemployment problems, and modernizing public administration.

Ensuring an effective functioning of the EU's internal market and making the most of its potential is a key task, the President said.

To this end, the EU must continue building a single market for services and a digital single market, implement digital agenda, improve business environment, strengthen the Economic and Monetary Union, accelerate the establishment of a Single Supervisory Mechanism for the banking sector, and promote free trade with foreign partners.

According to the President, creation of the EU internal energy market is particularly important to Lithuania as it will contribute to ending the country's energy isolation and ensure competitive energy prices to consumers.

The European Council will pay special attention to youth unemployment issues. Tomorrow, Europe's leaders will discuss relations with Russia.

Press Service of the President

Last updated 2013.03.14 18:03