Date: 01.12.2012

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BUSINESSEUROPE’s Outlook underlines the importance of Member States addressing the priorities set out in the Commission’s 2013 Annual Growth Survey, also published today. Many Member States are making important progress in both reducing budget deficits and improving cost competitiveness and therefore trade performance. But European countries need to press ahead with the implementation of structural reform and fiscal consolidation programmes. Labour market reforms in particular are needed to allow labour costs to continue to adjust to productivity levels and create stronger incentives for businesses to recruit workers.

Philippe de Buck, Director-General of BUSINESSEUROPE said, “BUSINESSEUROPE’s November Economic Outlook shows that businesses do foresee the possibility of a return to growth in Europe in 2013. But this will only take place if leaders prioritise growth in all policy measures taken at both EU and national level as set out in the Commission’s Annual Growth Survey. We urgently need all EU institutions to do all they can to strengthen the Euro and support private sector confidence and investment.”