An important contribution to strengthening growth prospects in the euro area should also come from fiscal and structural policies. Determined reform efforts are needed in these policy areas to increase incentives for investment and employment creation in the euro area.
Regarding fiscal policy, countries with remaining fiscal imbalances have committed themselves to implement consolidation plans in order to reach budgetary positions close to balance or in surplus in the medium term. As part of this process, governments should put emphasis on growth-oriented consolidation policies that strengthen the productive forces of the economy.