LIVE: European growth initiative slowly takes shape

German Chancellor Angela Merkel is opposing economic stimulus policies that rely on new debt, amid calls to relax austerity measures from centre-left opponents in Germany and newly elected French President François Hollande.

Background

The EU has already adopted a ten-year growth plan, called 'Europe 2020' (see our LinksDossier).

The strategy, agreed in June 2010 by the EU's heads of state, defined five 'headline targets' that would need to be adapted at national level to reflect local differences:

Raising the employment rate of the population aged 20-64 from the current 69% to 75%.
Raising the investment in R&D to 3% of the EU's GDP.
Meeting the EU's climate change and energy objective for 2020 to cut greenhouse gas emission by 20% and source 20% of its energy needs from renewable sources.
Reducing the share of early school leavers from the current 15% to under 10% and making sure that at least 40% of youngsters have a degree or diploma.
Reducing the number of Europeans living below the poverty line by 25%, lifting 20 million out of poverty from the current 80 million.

View the story "Towards a European Union growth initiative" on StorifyTowards a European Union growth initiativeFollowing the election of French socialist President François Hollande, some EU leaders, backed by Brussels, have tacked firmly towards the growth agenda, with discussions expected to focus around a new "growth pact" for Europe to complement the treaty on fiscal discipline.Storified by EurActiv.com · Wed, May 16 2012 07:57:4816 May: Hollande and Merkel are quite open about their differences over the content of the EU's upcoming growth initiative, demanded by the new French President.
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