ECONOMIC POLICIES FOR GROWTH AND EMPLOYMENT

In 2000, the Lisbon Agenda set out an ambitious plan to make the EuropeanUnion “the most dynamic and competitive knowledge-based economy inthe world”. The Agenda suggested a need for action on three broad fronts:the first explicitly macroeconomic; the second explicitly microeconomic;the third of a more institutional nature, focussed on the labour market.First, macroeconomic policies need to create conditions for more growthand jobs in a dynamic and well-functioning Euro area....