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The Council also approved a specific draft recommendation on the economic policies of the Member States of the eurozone as a whole. The European Council in March endorsed priorities under this year's European Semester for ensuring financial stability, fiscal consolidation and action to foster growth. It underscored the need to pursue differentiated, growth-friendly fiscal consolidation, to restore normal lending conditions to the economy, to promote growth and competitiveness, to tackle unemployment and the social consequences of the crisis, and to modernise public administration.
The texts approved today will be forwarded to the General Affairs Council, with a view to the European Council meeting on 28 and 29 June. Recommendations covering both economic and employment policies are due to be adopted in July.
In accordance with new rules introduced last year under the EU's "six-pack" of economic governance legislation, the Council is expected to comply with the recommendations and proposals of the Commission or explain its position publicly. The Council's explanations will be issued in July.
Press release and country-specific recommendations