The introduction of the euro has not been accompanied by reforms capable of accelerating growth. Monetary stability and low interest rates have brought benefits, but growth still has not ensued. The Lisbon Agenda, valid in its general formulation, must be applied with the support of the Union and the Member States in the individual economies by identifying the instruments for its implementation.
The Blueprint for a Deep and Genuine Economic and Monetary Union published by the European Commission last November and the report Towards a Genuine Economic and Monetary Union presented in June 2012 and updated in December by the President of the European Council, working closely with the Presidents of the European Commission, the Eurogroup and the ECB, outline the stages of this process.