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Agreed by the June European Council, the implementation of the Compact for Growth and Jobs needs to be speeded up. This is the key message of the report of President Barroso sent out today to the Member States.
Encouraging progress has been made on some aspects of the Compact for Growth and Jobs since June, for example the increase in the capital of the EIB is underway and progress is being made on pilot project bonds. However, results in other areas have been disappointing and the strong political commitment of the Heads of State or Government and the European Parliament has not yet fed through to an intensification of work that would deliver rapid results on the ground.
This report and the accompanying annex take stock of progress and highlight where efforts should be redoubled in order to actively promote growth opportunities.
The success of the Compact on Growth and Jobs will require a strong partnership between the European Institutions and the Member States. The European Commission will continue to play its role to the full and calls upon: