Appendix 2: Conclusions of the Brussels European Council, March 2008
Edited by Maria João Rodrigues
COUNCIL OF THE EUROPEAN UNION Brussels, 14 March 2008 7652/08 CONCL 1 COVER NOTE from : Presidency to : Delegations Subject : BRUSSELS EUROPEAN COUNCIL 13/14 MARCH 2008 PRESIDENCY CONCLUSIONS Delegations will find attached the Presidency Conclusions of the Brussels European Council (13/14 March 2008). ________________________ 7652/08 EN 358 Appendix 2 Presidency Conclusions – Brussels, 13/14 March 2008 359 The meeting of the European Council was preceded by an exposé by the President of the European Parliament, Mr Hans-Gert Pöttering, followed by an exchange of views. o o o 1. The fundamentals of the European Union economy remain sound: public deficits have been more than halved since 2005 and public debt has also declined to just under 60%. Economic growth has reached 2,9% in 2007, but is likely to be lower this year. 6,5 million jobs were created in the last two years. Although cyclical factors have played a role, these developments have been aided by the structural reforms undertaken over the last years within the framework of the Lisbon Strategy and the beneficial effects of the Euro and the single market. 2. However, the global economic outlook has deteriorated recently as a result of a slowdown of economic activity in the United States, higher oil and commodity prices, and ongoing turbulence on the financial markets. Excessive volatility and disorderly movements in exchange rates are undesirable for economic growth. In the present circumstances we are concerned about excessive exchange rate moves. This is why it is all the more essential for the...
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