A common task for the national parliaments and the EP is to work towards higher economic growth, lower unemployment, and a higher living standard in the EU, said the delegates of the Inter-Parliamentary Conference for Stability, Economic Coordination and Governance in the EU. The two-day conference, organised by the EP and the National Assembly, is the third event as part of the Parliamentary Dimension of the Bulgarian Presidency of the Council of the EU.

At the opening of the plenary session, Deputy Chair of the Budget and Finance Committee Evgeniya Angelova emphasised that the financial situation in the EU member states was improving, and the unemployment rate was dropping below the levels typical of the years before the crisis. The better conditions for investment and the creation of new jobs are all positive trends, but there are challenges which we, parliamentarians from the member states, need to address, she said.

European Commissioner for Employment, Social Affairs, Skills and Labour Mobility Marianne Thyssen said that growth was a fact in all EU member states, investments were recovering, employment was reaching record levels. At the same time, we have not overcome completely the aftermath of the crisis: the government debt, the corporate debt and household debts have not been eliminated yet, 18 million people seek jobs, she emphasised. The goal of the European Commission is to make sure the restored growth is inclusive and sustainable in the long term, that we achieve cohesion in the EU and that our economies and societies are prepared to meet the new challenges, added the European Commissioner.

As early as the beginning of the European Semester in 2011, the member states demonstrated progress on at least two thirds of the recommendations, said Marianne Thyssen. She emphasised that the key messages for the EU were: “Time is needed to implement reforms, but we are on the right track”. According to the Commissioner for Employment, Social Affairs, Skills and Labour Mobility, cohesion is being restored as an upward trend, but the differences between member states remain. Inequality is on the rise and if the situation remains unchanged, this will be a big challenge to our cohesion, said Marianne Thyssen.

Maybe the most important message of the European Semester is that economic growth and social progress go hand in hand, that investing in people is the real driver of economic progress, said Marianne Thyssen. In her words, this is the reason why the European Semester is gaining a clearer social orientation during the mandate of the European Commission.

We have to continue working for a clear social policy, a government debt reduction oriented financial policy, for investment and an increase of the working salary, which would decrease inequality and guarantee a high living standard for our citizen, emphasised the European Commissioner for Employment, Social Affairs, Skills and Social Mobility. The EP and the national parliaments of member states are essential partners for the dialogue in the second phase of the Europen Semester 2018.

I am happy to hear that the European economies are recovering, the GDP is growing, but I think that we, parliamentarians, still have a lot of work to do, said Krzysztof Hetman, rapporteur on the European Semester 2018 from the EP Employment and Social Affairs Committee. He emphasised that special attention should be paid to youth unemployment, which is more than 13 per cent

In 2016, only 2 per cent of the recommendations of the European semester were completely fulfilled by the member states, 3 per cent were partially fulfilled, and over 55 per cent were either not fulfilled, or poorly fulfilled, said Krzysztof Hetman. Sometimes it is said that some of the reforms are too ambitious for some member states, and that is why I believe that we should set ambitious, but achievable goals, he added. Without doubt, the cohesion policy is a wonderful instrument for preventing those phenomena, and it should be maintained on the same levels as in the previous and current multiannual financial frameworks, said Krzysztof Hetman.

Hugues Bayet, rapporteur on the European Semester 2018 from the EP Economic and Monetary Affairs Committee, emphasised that there was a gradual recovery of economic growth in the Eurozone. It is important to have a stable economic climate, jobs, and stronger competitive sectors, he said.

“Political priorities of the European Semester 2018 cycle” is the topic of the discussion on the first day of the conference. The discussion was led by EP Economic and Monetary Affairs Committee Chair Roberto Gualtieri and Deputy Chair of the Budget and Finance Committee of the National Assembly Evgeniya Angelova.