European Union
ILO welcomes European Commission commitment to include social pillar in economic and monetary union
The ILO welcomes the European Commission Communication on the Social dimension of the Economic and Monetary Union (EMU), adopted on 2 October 2013. With this Communication, the European Commission proposes to add a scoreboard on employment and social issues to evaluations of financial, fiscal and economic performance in the evolving economic and monetary governance structure of the EU.
10 October 2013
Addressing the European Commission’s conference on "Restoring Socio-Economic Convergence in Europe" on 10 October in Brussels, ILO Deputy Director General Sandra Polaski welcomed the plan (European Commission Communication on strengthening the social dimension of the economic and monetary union) to reinforce the coordination and surveillance of employment and social policies within the EMU. She stressed that it is a sound step both in strengthening the economic governance and in realizing public aspirations for a social Europe.
Ms Polaski pointed out that the need for coordination of macroeconomic policy with employment and social policy has also been recognized by the G20 Leaders, in their Summit in St. Petersburg and at an unprecedented meeting of G20 Finance Ministers with Labour and Employment Ministers in July. “Effective and inclusive labour market and social policies are essential for recovery and growth, and they should be high on the agenda of macroeconomic policy makers”, Ms Polaski said.
Ms Polaski pointed out that the need for coordination of macroeconomic policy with employment and social policy has also been recognized by the G20 Leaders, in their Summit in St. Petersburg and at an unprecedented meeting of G20 Finance Ministers with Labour and Employment Ministers in July. “Effective and inclusive labour market and social policies are essential for recovery and growth, and they should be high on the agenda of macroeconomic policy makers”, Ms Polaski said.