"Carrying out sustainable budgetary policies fostering growth and employment": today, Joaquín Almunia, monetary and economic affairs commissioner, showed a communication by the Executive meant for the EU Council and Parliament, based on budgetary policies, on the application of the Stability and Growth Pact (in its 2005 revision), and in particular, on the "preventive branch" of the Pact. "Although the situation remarkably improved in the last few years stated the Spanish commissioner -, it is clear that the majority of the member States must improve their results in relation to reaching balance sheet goals". The benefits "of healthy budgetary policies are evident". According to the Executive, "the reduction of deficit and debt, as well as the overall improvement in the quality of public finance would allow member States to release the necessary resources to promote innovation, investments, education and employment", which in turn would allow "to tackle the challenges of globalization and population ageing with more hopes". (To be continued)
