General Affairs Council approves report on European Semester 2014

The General Affairs Council has approved the Presidency’s synthesis report on the European Semester 2014 established on the basis of the Annual Growth Survey (AGS). The survey sets out the broad EU economic priorities for the coming year and, more generally, gives an indication on the necessary actions to implement the Europe 2020 strategy.

The main focus of the meeting was on the economy, including growth, competitiveness and jobs. Evangelos Venizelos, Greek Deputy Prime Minister and Minister for Foreign Affairs, who also chaired the meeting, said “Enhancing industrial competitiveness is a pre-condition for economic growth. The creation of jobs is a key priority for the Greek presidency and for all European societies.”

Climate and energy was also discussed in relation to industry competitiveness. The Council agreed to examine how to implement policies that can provide affordable energy prices in order to boost European industry competitiveness and sustain economic growth. Differences in energy prices compared with the United States and among European countries needs to be addressed, ministers said. The Council also debated how to ensure energy security and how to reduce dependency on third countries.

The European Council will meet later this week in Brussels.