Annual Report on Structural Reforms 2003. “Shifting up a Gear. The Case for Speeding up Reform”

Abstract

Preface On going structural reform is a central feature of the EU’s agenda. It has to be so if member states are to deliver to their citizens continuing and improving material and socialwell-being. Sustained progress is essential if the ambitious goals set in Lisbon are to beachieved.In accordance with its statutes, the Economic Policy Committee has a duty to report eachyear on the progress that the Union has made. It does so as a frank friend, noting whereprogress has been achieved but also drawing attention to areas where progress has beenless satisfactory and where efforts need to be reinforced.The current Report was adopted by the EPC on 25 February 2003. It was underpinned by apeer review of structural reform in the product, capital and labour markets of eachMember State. This review was carried out by a working group of the EPC under thechairmanship of Joe Grice. The European Commission Spring Report and BEPGImplementation Report were of particular importance as information sources and theEuropean Commission played a full part in this exercise and provided in depth support,which the EPC gratefully acknowledges. With regard to the key challenges that Memberstates face, there is a high level of agreement between the EPC, as expressed in thisReport, and the Commission, as expressed in its BEPG Implementation Report.This year, the scrutiny focused on early retirement schemes as the special topic. This is apressing subject that has relevance for the Lisbon, Stockholm and Barcelona objectives foremployment and participation, and also for fiscal sustainability, within a Union with anageing population.