The Governing Council fully supports the ECOFIN Council’s conclusion that “particular attention should be given to increasing employment rates, especially in the context of ageing populations, within the continuing need to increase growth by raising both employment and productivity.” To this end, we strongly support the Commission in its determination to promote the renewed Lisbon Strategy and we encourage national governments to show their determination in this regard by implementing structural reforms in Europe.
Closing the existing implementation gap is essential in order to reap the benefits of reforms, in terms of both a higher growth potential in the medium term and improved consumer and business confidence in the short run. We are now at your disposal for questions. 2  BIS Review 8/2005