NEWSLETTER 04 – 08/01/2010

TABLE OF CONTENTS

EU / FINANCIAL SERVICES ..................................................................................... 2

Progress in harmonising consumer financial products ................................................... 2
Parliament gears up for fight on financial regulation....................................................... 2
Life expectancy reduces PfZW indexation ..................................................................... 3
EU / INTERNAL MARKET ......................................................................................... 4
Financial stability, intellectual property and single market as Barnier's priorities ............ 4
EU / HEALTH ............................................................................................................. 6
Consultation on European health work force published.................................................. 6
EU / SOCIAL .............................................................................................................. 6
Barroso pledges 'to fight' for EU social agenda.............................................................. 6
Enhancing social dialogue at heart of Laszlo Andor mandate ........................................ 7
ECONOMY ................................................................................................................. 8
Economic recovery in the euro area is gathering momentum......................................... 8
Special EU summit to focus on economy, jobs .............................................................. 9
OTHER NEWS AND EVENTS ................................................................................. 10
Spain vows to take backstage role as EU President .................................................... 10
9 things 2009 will be remembered for .......................................................................... 10
2010 European Year for Combating Poverty and Social Exclusion .............................. 11
THE ANALYSIS IN DEPTH...................................................................................... 12
Parliament gears up for fight on financial regulation..................................................... 12
Special EU summit to focus on economy, jobs ............................................................ 14

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EU / FINANCIAL SERVICES
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Progress in harmonising consumer financial products

On Wednesday 16 December 2009, the European Commission published a progress report on its draft
legislation to harmonise the sale of financial services to consumers, examining three areas - the scope of
the new rules, information to be provided before contacts are entered into and sales practices.

Whether consumer financial products are information to make it easier to shop around
covered by the new regulation will be decided among products of a similar type and more
by whether their purpose is to accumulate detailed rules to distinguish between different
capital. The European Commission argues that consumer financial products. Further work is
this approach is necessary and most required to decide who will be responsible for
stakeholders agree. The report does not preparing the pre-sale consumer information
examine whether pensions and insurance document (the body providing the product or
products should be covered, but it says that the agent selling the product). There will be EU
investment in commodities and real estate will rules on sales practices based on the rules set
not be included. The rules on information to be out in Directive 2004/39/EC on financial
provided before contracts are entered into is products and conflicts of interest, and ensuring
based on a factsheet produced for the sale of customers are not missold products.
harmonised 'UCITS' funds and include (Ed Agence Europe, 19/12/2009)

Parliament gears up for fight on financial regulation

EU Commission President José Manuel Barroso has appealed on the European Parliament to tighten up
draft EU rules on financial regulation which MEPs say have been "watered down" by Britain.
(Euractiv.com, 18/12/2009)

IN DEPTH ANALYSIS BELOW (page 12)

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Life expectancy reduces PfZW indexation

PfZW, the €84bn Dutch industry-wide pension scheme for healthcare workers, has granted its two
million participants part indexation of 0.72% - lower than in previous years as officials at the
pension fund anticipate life expectancy will rise in the future.

For the same reason, members of the
Netherlands’ second-largest pension fund
also face a 0.6% rise in contributions to
23.1% of pensionable salary in 2010. “Not
only external demographic predictions, but
also our own data, show a fast rise in life
expectancy,” commented Peter Borgdorff,
director of PfZW. “We therefore think it is
sensible to take this risk into account for both
indexation and the contribution levels for
2010,” he explained. According to PfZW, the
decision to only part compensate for inflation
follows its recovery plan, which is prescribed
to pay a maximum indexation of 50% of the
salary inflation of 2.85% until such time as
the scheme meets its target cover ratio.
However, the pressure of rising life
expectancy means the indexation payment
has been limited to just 0.72%. Recent
figures from Statistics Netherlands (CBS)
indicated life expectancy is increasing faster
than as listed on longevity tables used by
pension funds – for the period between 2002-
2007 – and provided by the Actuarial Society
(AG). For example, the assumed average
yearly rise of 2.3% for men between 60 and
69 during the next 45 years could in fact be
over 3%, according to consultancy firm
Hewitt Associates, after looking into the
impact of the CBS data. At present, the AG is
working on an update of its forecasts –
including an extension of its prognosis
horizon by 10 years until 2060 - which it
expects to publish later this year.
(IPE.com, 04/01/10)

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EU / INTERNAL MARKET
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Financial stability, intellectual property and single market as Barnier's

priorities

Michel Barnier, the commissioner-delegate for the internal market has set out three major priorities for his
mandate if the European Parliament confirms it after his hearing programmed for Wednesday 13 January. In
the line of orientations set out by the G20, the French politician indicated in his response to the preliminary
questionnaire submitted to him from the internal market committee, that these priorities consist of financial
stability for restoring the confidence of investors and citizens, the adaptation of the European strategy on
intellectual property rights (IPR) and bringing the single market closer to citizens. According to the former
French minister for foreign affairs, this will mean “paying more attention to the social dimension in the
measures envisaged”.

“I am in favour of a dynamic and intelligently framework to the Commission for managing

regulated and efficiently monitored European
financial sector. This is vital if we want to
restore the confidence of savers and
investors”, affirmed Mr Barnier. He identified
five objectives for financial services policy: - a
sector that is at the service of sustainable
growth; - consumers, savers and SMEs that
are “appropriately protected”; - a better
disciplined sector, with greater supervision of
the financial institutions and more coordination
at a European level; - providing the system
with tools for managing crises; - “being at the
avant-garde in the search for common
solutions at a global level”. He provided a list of
precise initiatives, some of which have already
been put on the table and are being prepared
by the Commission. Mr Barnier is seeking to
finalise negotiations on reform of the European
financial supervisory system and will propose a
and resolving crises and enhancing the
supervision of groups that have great systemic
importance. Other areas in which to build
action are: the creation of European deposit
guarantee and bank resolution funds, fostering
quality and the level of own banking funds, as
well as revising rules regulating professional
pensions institutions. According to Mr Barnier,
“much remains to be done” in the domain of
financial market infrastructure. A European
framework will therefore be proposed for
derivatives, intermediate shares and retail
financial services. The commissioner-
designate also appealed for global
convergence in accounting standards and
improved IASB governance in charge of
drawing up international standards for financial
information in force in the EU (IFRS). In the
domain of intellectual property, Mr Barnier

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would like the EU to have a coherent legal
framework in order to respond to legal
challenges facing the development of a virtual
economy. This naturally would include the
creation of a Community patent and the setting
up of a pan-European system for litigation
resolution, on the condition that the linguistic
question is resolved. Modernisation of the
Community system of trademarks and
deployment by the European Observatory on
Counterfeiting and Piracy under the aegis of
the European Commission are also envisaged.
“I consider that the EP is a solid partner for
working together towards greater appropriation
(of the internal market) by citizens”, explained
the commissioner-designate, who is aware that
it is impossible to simply “fall in love with the
single market” as explained in the famous
quotation attributed to Jacques Delors. He is
convinced that increased transparency
regarding European decisions will bring
Europe closer to citizens. He also announced
that one of his advisers would be specifically in
charge of cooperation with the EP. Other
measures aimed to enable citizens and SMEs
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to enjoy their rights in full within the internal
market by way of tools such as SOLVIT and
the future internal market assistance portal.
According to Mr Barnier, the launch of studies
will help identify sectors of activity where the
market is not reaching its full potential, “with
the goal of re-establishing growth at the
service of citizens and SMEs”. In 2010 the
process for mutual evaluation of legislation is
included in the services directive will take
place. In the perspective of consumer
protection, the development of online cross-
border services will also mobilise Commission
services. In the area of corporate law, Mr
Barnier is seeking to provide greater detail on
the issue of cross-border transfers of corporate
centres. He is determined to finalise the
ongoing impact assessment on opportunities
for providing a framework to European level
concessions and says that he is convinced of
the need to examine how “public procurement
access can be further facilitated, particularly for
SMEs”.
(Ed Agence Europe, 22/12/2009)
 NEWSLETTER 04 – 08/01/2010

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EU / HEALTH
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Consultation on European health work force published

The European Commission has published the results of the consultation on the future of the European health
work force. The consultation revealed concerns over the recruitment and training of sufficient numbers of
qualified staff in the future. The results of this consultation will inform the work of the Commission on the EU
strategy for 2020. The report can be found at:
http://ec.europa.eu/health/ph_systems/docs/workforce_report.pdf
(Ed Agence Europe, 21/12/2009)

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EU / SOCIAL
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Barroso pledges 'to fight' for EU social agenda

European Commission President José Manuel Barroso this week (16 December) faced accusations from
MEPs that his draft EU 2020 strategy for economic and environmental renewal lacked a sufficient social
dimension.

Barroso, responding to a barrage of questions from the commitments of successive European

from MEPs during a one-hour 'question time' in
Strasbourg, was repeatedly challenged over
the lack of social aspects in the strategy. UK
Socialist MEP Stephen Hughes cited claims by
the European Anti-Poverty Network (EAPN)
that the 2020 strategy was "a step backwards
Councils to strengthen the social dimension" of
EU policies. In response, Barroso claimed his
goal was a "strengthened mechanism of
governance" for the social elements of the
strategy. He added that the strategy is as yet
only a consultation document and that the

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social elements may differ in the final
draft. Barroso blames member states for social
inaction: Barroso appeared to be talking up his
own social credentials, telling MEPs that he
has pushed in the past for stronger social
cooperation in EU policy only to be told 'no' by
member states, who jealously guard their
sovereignty over social issues. "This isn't new,"
he said, adding that on several occasions, his
Commission had made "very specific
proposals" to enhance social cooperation only
to receive a "very loud 'no'" from the member
states. However, the Commission president
claimed that things may be different this
time. "After this crisis, there is much more
awareness among member states of the need
to have a real co-ordination of social aspects,
and I'm going to fight for it," he said, indicating
that newly-appointed EU Council President
Hermann Van Rompuy has called for an
informal exchange of views among EU leaders
on this topic in early February 2010. "We need
the support of member states," Barroso
concluded. Regarding the timeline for
finalising the strategy, Barroso explained that
he hopes to have a formal communication
ready for the spring EU summit next March,
but would delay presenting formal conclusions
to EU leaders until their June meeting. "I think
this is better," he noted, as it will ensure
that there is enough time for the Parliament to
"take full ownership" of the strategy. Barroso
has been widely criticised for scheduling the
consultation for the strategy over the busy
December holiday period.
(Euractiv.com, 18/12/2009)

Enhancing social dialogue at heart of Laszlo Andor mandate

On 13 January, Commissioner designate for Social Policy and Inclusion Laszlo Andor will set out for MEPs
the main thrust of his mandate. His firm intention is to make a significant contribution to the new EU 2020
strategy and, thus, to enhance social dialogue. This will be no easy matter, the challenge being to find a
balanced policy mix that will require political compromises be made by stakeholders. According to a
Parliament document, Andor states that it is not a matter of having a “shopping list”, but shared
understanding and agreement on what is necessary to drive things forward.

Andor would also consider carrying out a
comprehensive re-assessment of the working
time directive and, should he consider it
necessary, would bring forward a proposal for
adoption by the Commission. In line with the
specific provisions of the Treaty, he would,
however, seek the views of the European social
partners and ask them if they wished to initiate
social dialogue on the issue. Andor would also
take the necessary initiatives so that the posting

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of workers directive can be implemented and time to the social and employment market
would seek to bring clarification on what is aspects of immigration. He would also launch a
expected of national authorities, companies and green paper on developing a European
workers. He would also propose appropriate framework for sufficient, sustainable pensions
amendments to the acquis communautaire in systems, and a period of reflection on public
the area of health and safety at work, in order to social services, thereby acknowledging the
bring an immediate response to any emerging importance of the European social model.
risk. A further issue of importance for Andor is Working in close cooperation with the justice,
preventing musculoskeletal disorders and fundamental rights and citizenship
improving the protection of workers from commissioner (Viviane Reding is the
exposure to electromagnetic fields. He intends commissioner designate), Andor would strive to
to launch periods of reflection on the modern promote fundamental rights, in particular those
services sector, effective social protection contained in the Charter of Fundamental Rights.
systems, and, working closely with the internal Last but not least, Andor would ensure that the
affairs commissioner (the commissioner new generation of financial instruments
designate is Cecilia Malmström), active policies responded more effectively to the challenges of
for the integration of immigrants. Still in relation the medium to long term.
with the EU 2020 strategy, Andor would devote (Ed Agence Europe, 06/01/10)

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ECONOMY
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Economic recovery in the euro area is gathering momentum

The worst recession in the euro area’s short history seems to have come to an end. After five
consecutive negative quarters, the euro-area economy expanded again by 0.4% quarter-on-quarter in
the third quarter. The rebound in activity reflects improvements in the external environment, the
unprecedented fiscal and monetary policy actions that were taken worldwide and the improvements in
financial conditions.

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The outlook for the euro-area economy as it
emerges from recession is, however, still
uncertain. A particular source of concern is the
impact of the crisis on labour markets, an issue
which is analysed in this report. The report also
discusses the driving forces of exchange rate
movements during the crisis. Looking forward,
the December issue of the QREA looks into
structural reforms, first by shedding some light
on the impact of the crisis on public perceptions
of the need for reforms and second by
quantifying the impact on growth of reforms
aimed at stimulating research and innovation,
competition and human capital. The report's
first focus section looks at how long-term trends
in the euro-area banking sector may be affected
by the financial crisis. The analysis suggests
that pre-crisis trends relating to size,
concentration and integration are likely to
persist with banks becoming larger, fewer and
more international in the years to come. The EU
Financial market is also bound to become more
integrated as the underlying driving forces
remain in place in terms of risk diversification.
But the crisis has also put pressure on the
Special EU summit to focus on economy, jobs
On his first day as president of the European Union, Herman Van Rompuy called a special summit to seek a
way out of the current crisis and start mapping the EU's economic and social agenda for the next decade.
(Euractiv.com, 05/01/10)
IN DEPTH ANALYSIS BELOW (page 14)
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04 – 08/01/2010
banking sector to restructure. Banks' financing
strategies are likely to shift towards a stronger
equity component, while their business models
are likely to concentrate more on core markets.
Overall, the euro-area financial system may
ultimately be less dominated by banks relative
to the activity of market financing and of other
financial intermediaries. The crisis-related
fiscal expansions and the ageing population
raise questions about the sustainability of public
finances in the euro area. The second focus
section takes up this issue in depth. With the
share of the working-age people falling and the
share of the old increasing, economies are
faced with lower economic growth and higher
costs associated with providing services for the
ageing population. This results in pressure on
public finances. Ensuring fiscal sustainability in
the euro area requires time-consistent policies
with a broad approach, consisting of fiscal
consolidation, efforts to increase employment
and enhance productivity, and structural
reforms that prepare the euro area’s social
security systems to face the future challenges.
(Ec.europa.eu, 22/12/2009)
 NEWSLETTER 04 – 08/01/2010

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OTHER NEWS AND EVENTS

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Spain vows to take backstage role as EU President

Spain vowed to take a backstage role during its stint as holder of the six-month rotating EU Presidency,
saying the frontmen will be Herman Van Rompuy, the EU's first permanent President, and Catherine Ashton,
the new High Representative for foreign affairs.

Miguel Angel Moratinos, Spanish foreign
minister, said Spain will only play a supporting
role to the EU's new leaders. Meeting the
Brussels press for the first time in his new EU
capacity on 18 December, Moratinos made it
clear that with the Lisbon Treaty now in force,
Spain will take a step back on the EU scene
and will provide full support to Europe’s new
leaders and institutions. "I would like to state it
very clearly. The engagement of the Prime
minister of Spain and of the entire Spanish
government is that we have new European
representatives who will lead, give momentum
and will steer [the Union] through the first
semester of 2010," said Moratinos, who was
speaking in Spanish. "Spain will not abandon
its responsibility […] but we will do it with
modesty, with discretion, through our work and
our support. This is what we have decided and
what we have agreed with the Permanent
President, with the High representative, and I
can say that there will be no competition, there
will be complementarity, there will be support
to these new institutions and personalities," he
stated. Moratinos presented his country’s
priorities, which largely repeated a recent
presentation by Spain’s Secretary of State for
EU Affairs Diego López Garrido.
(Euractiv.com, 18/12/2009)

9 things 2009 will be remembered for

For many 2009 will be a historic year with the coming into force of the Lisbon Treaty, the outcome of the
Copenhagen summit and the inauguration of the first black US president. It was also a year when we
celebrated some significant anniversaries, notably the events of 1989 which caused the Communist bloc in
Central and Eastern Europe to unravel.

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World leaders met in Copenhagen in December
to try and come up with a plan to save the world
from the perils of climate change.
After many trials and tribulations the Lisbon
Treaty finally came into force on 1 December,
changing the way the EU is run and giving
Parliament many new powers.
After 2 years of wrangling over the telecoms
package, the EP and EU ministers finally
reached an agreement, which includes
protection for internet users in line with MEPs'
demands.
This year we marked the anniversary of the
1989 uprising and the massive changes that
has wrought in Europe.
MEPs elected the first EP president from
Eastern Europe, former Polish Prime Minister
and Solidarity activist Jerzy Buzek.
EU citizens elected their 7th European
Parliament in June.
The EP got onto social media in a big way - you
can now follow your favourite EU institution on
Facebook, Myspace, twitter and Flickr, to
mention just a few.
North America's first black President, Barack
Obama, took office on 20 January.
It was a cold start to the year as the Russia-
Ukraine gas dispute hit 17 EU countries leaving
homes and hospitals without heating and
leading to the closure of schools and factories.
(Europarl.europa.eu, 04/01/10)

2010 European Year for Combating Poverty and Social Exclusion

On the occasion of a high-level conference in Madrid on 21 January, the European Commission and the
Spanish EU Council Presidency will launch the European Year 2010 for combating poverty and social
exclusion. The programme will aim to draw attention to this issue which the European institutions and the EU
member states consider of prime importance. It will be implemented in all 27 EU member states as well as in
Iceland and Norway. A total of €17 million will be allocated to the programme (completed by national funding)
for the organisation of activities and events at European and national level.

Throughout the year 2010, there will be campaigns, information sessions in schools,
events organised between participant states, round tables and training sessions aimed at
the EU and civil society as well as NGOs and the media and political decision-makers will
social partners. At national level, awareness be organised. At European level, the following

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activities are planned: two thematic weeks, a
competition for journalists, an art exhibition
and two major conferences in January and
December 2010, a Commission press release
points out. The Commission stresses that
poverty and exclusion are not only detrimental
to the wellbeing of individuals and their ability
to play a role in society, but also jeopardise
economic development. Given these
parameters, the Commission continues, the
EU intends to stress the importance and
collective responsibility for combating poverty
by, among other things, recommending the
mobilisation of decision-makers and private
and public players. Above all, however, the
European Year 2010 for combating poverty
and social exclusion will give a voice to all
those who live in poverty on a daily basis, the
Commission concludes.
(Ed Agence Europe, 05/01/10)

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THE ANALYSIS IN DEPTH

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Parliament gears up for fight on financial regulation

EU Commission President José Manuel Barroso has appealed on the European Parliament to tighten up draft
EU rules on financial regulation which MEPs say have been "watered down" by Britain.

After a long year of negotiations between
member states on how to insulate the EU
against another crash in financial markets, the
onus is now on Parliament to scrutinise draft
financial regulation. On the whole, MEPs agree
they either want to preserve or strengthen the
European Commission’s proposals and reject
their dilution by the EU Council of Ministers,
which represents the EU’s 27 member states.
MEPs also predict fractious 'trialogue'
meetings to take place in May 2010 when all
three EU institutions will convene to hash out
compromise agreements. MEPs have and will
continue to voice their most vocal opposition to
the Council’s amendments to new bodies
intended to beef up EU powers on financial
supervision. A European Systemic Risk Board,
which will hold a "moral power" over unruly
financial institutions, and three European
Supervisory Authorities – for banking,

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securities and pensions - have according to that get their value from underlying assets,
MEPs, been considerably diluted by member have also been castigated for allowing
states. The UK stalled negotiations on the companies to trade bad debt and inflate asset
supervisors as the country’s Treasury argued it bubbles. Instead of being exchanged privately
would lose fiscal sovereignty. Specifically, ('over the counter'), a commission proposal
Britain managed to obtain the deletion of two wants to establish central clearing houses to
articles which would allow the EU to directly act as an intermediary. MEPs say derivatives
supervise certain financial institutions". The are not part of a live proposal yet. The
second most contentious proposal is the hotly Commission is expected to produce a draft law
debated law to regulate hedge funds, private in July. This is one of the least contentious
equity houses and venture capital proposals as on the whole, Parliament, Council
associations, funds that have been barely and the Commission agree that derivatives
scraped by EU regulation in the past. The should be traded publicly. On the subject of a
Swedish Presidency, which has been actively financial transactions tax, the Parliament
redrafting the Commission’s April draft, also appears to be ahead of its executive
stands accused of capitulating to a London- Commission by hosting hearings on how such
based lobby of investment managers and a levy could move from idea to
conservative politicians. The Presidency has policy. Policymakers warn caution though as
handed its successors, the incoming Spanish the US is firmly against a so-called Tobin tax
Presidency, a largely unfinished version with despite European bigwigs France and
question marks hanging over depositaries, Germany being firmly in favour and Britain only
valuation, remuneration and non-EU funds. loosely following behind. Without the US
The Parliament’s Economic and Monetary treasury on side, a Tobin tax in the EU or the
affairs committee will probably produce a European Economic Area (the EU plus
radically different text to the Commission and Norway, Iceland and Liechtenstein) would
the Council Presidency, say Parliament push investment away from the EU at a time
insiders, suggesting MEPs will push for stricter when GDP has already fallen a record 4%, say
borrowing limits and pay restrictions. The only its opponents. The future of the tax is
proposal to get a swift agreement from all uncertain as the Commission is in the very
parties was the supervision of credit rating early stages of examining its benefits and will
agencies, whose over-valuation of toxic assets await a report from the International Monetary
is believed to have inflated asset bubbles. Fund due in mid-2010 on measures to rescue
Rating agencies, like Moody’s and Standard & public finances, including a Tobin tax. Dominic
Poor’s, will now have to register with the EU Strauss Kahn, the head of the IMF, recently
and will be closely watched by an EU said he could support a one-off tax on a small
regulator. The regulation of derivatives, assets share of financial transactions. To round off a

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year of talks, parliamentarians also met with an an example to the rest of Europe that
old hand who raised an age-old single market cooperation is possible, said Monti. Lowering
paradigm likely to divide opinion. In tax competition between EU countries, would
October, Barroso asked former Italian allow governments to pay for social policies
Competition Commissioner Mario Monti to endangered by dwindling public finances. This
suggest a way forward to address could mean agreed minimum tax rates, he
protectionism and complete the Union’s suggested, notably on capital and corporate
internal market. The former commissioner’s profits.But opposition from the low corporate-
report is intended to inform policy in next year’s tax dependant Anglo-Saxon and Central
internal market portfolio led by French Eastern European countries of the EU renders
politician Michel Barnier. At a meeting with the tax-coordination impossible, argue observers.
European Parliament’s committee on internal The European Parliament is split into two
market and consumer protection last week, camps on tax – those that want co-ordination,
Monti echoed earlier sentiments that the single a minority, and those that want competition,
market depended on lowering tax rates and the majority.
doing so in a co-ordinated way. France and (Euractiv.com, 18/12/2009)
Britain’s new tax on banker’s bonuses has set

Special EU summit to focus on economy, jobs

On his first day as president of the European Union, Herman Van Rompuy called a special summit to seek a
way out of the current crisis and start mapping the EU's economic and social agenda for the next decade.

On Van Rompuy's initiative, EU leaders will
meet in Brussels on 11 February to tackle the
economic and social crisis. "This is my first
official working day," Van Rompuy said in a
video address on Monday (4 January). "I'm
already preparing the next European Council
on 11 February," he said, insisting: "I took the
initiative to convene this Council." "We need
more economic growth in order to finance on a
sound basis our social model [and] to preserve
our European way of life," he explained.
Unemployment is expected to soar in 2010,
with Eurostat predicting a peak of
approximately 10.3% for the EU-27 towards
the end of the year. The Baltic countries,
Ireland and Spain are the EU member states
that have been hit hardest, with unemployment
rates doubling or worse since the economic
crisis began. Youth unemployment in particular
has reached new historical highs in recent

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months, according to a recent EU report. The
state of public finances in some European
countries has also started to raise concerns.
Deficits in Greece are expected to run at over
120% of GDP in 2010, surpassing Italy's for
the first time in years. This prompted agency
Fitch to downgrade Greece's debt to a 'B'
rating for the first time in ten years. "I believe
the economic issues – how best to
coordinate to counter the adverse impact of the
crisis on jobs and on public finances, how to
plan strategies for the next stage once
recovery is secured – will top the agenda of the
heads of state or government for the months to
come," Van Rompuy said. Last November, the
European Commission launched a consultation
on the EU's new economic and social strategy
for the next decade. The new strategy will
replace the EU's flagship Lisbon Agenda for
growth and jobs, adopted in the Portuguese
capital in 2000 and which expires this year. In
its consultation document, the Commission
invites member states to lead Europe towards
a green, knowledge-based economy by 2020,
placing the emphasis on four key priorities:
innovation and knowledge, fighting exclusion,
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green growth and a new 'digital Europe'
agenda. Other issues on the summit's table will
include the aftermath of the Copenhagen
conference on climate change, energy
challenges and Europe's "aspirations for
greater security and justice," Van Rompuy
said. The February summit will also be Van
Rompuy's first test as EU president, a job
created by the Lisbon Treaty, which entered
into force late last year. Some analysts have
warned that the creation of the new role, which
comes in addition to existing senior EU
positions, will only create confusion and lead to
"institutional chaos". But Van Rompuy
suggested he could bring greater political focus
to the European Council, which gathers the 27
heads of state and government. "We must
form a group, a circle, that agrees with itself
and works for the same cause, the European
Union. We must also lay more emphasis on
the political decisions that go beyond our
traditional conclusions. We must send the
public a clear and visible message. We have
already worked on that, and we will continue to
do so."
(Euractiv.com, 05/01/10)