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02-Aug-2011
The recession hit employment and wages severely and aggravated unemployment among vulnerable groups. A better functioning labour market is required for the adjustment of the economy. Reforms to improve employment outcomes should be implemented rigorously.
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02-Aug-2011
Greek fiscal consolidation requires rapid and meaningful progress in tax collection efficiency. Fighting tax evasion and improving the tax system needs to continue. Efforts also need to visibly ensure a fair burden-sharing of the adjustment.
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02-Aug-2011
Substantial fiscal adjustment has been achieved so far. The current path of consolidation has to continue together with the implementation of the large privatisation programme, and deep fiscal and other structural reforms to restore public debt sustainability.
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02-Aug-2011
Fiscal deterioration over the past decade reflects major failings in expenditure control. Efforts to overhaul the public remuneration system, restructure state-owned enterprises, better target social spending and enhance budget monitoring and the fiscal framework need to continue.
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02-Aug-2011
Greece is in deep crisis after years of fiscal laxity and weak structural reforms. To return to sustainable growth, the fiscal consolidation and product and labour market reforms underway should continue, be closely monitored and strictly implemented, with the burden of the adjustment fairly shared.
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12-Jul-2011
After a good labour market performance during the crisis the main challenges for policy makers are to reverse the labour market segmentation between insiders and outsiders and to offset the ageing of the labour force through higher participation. Thus, policies must focus on enabling the current labour market outsiders to get a stronger foothold on the labour market as well as to mobilise under-utilised labour resources.
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12-Jul-2011
To secure fiscal sustainability without hurting long term growth prospects, fiscal consolidation should focus on reducing spending at all levels of government and curbing the growth of ageing related costs, in particular in social security.
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12-Jul-2011
The crisis has enhanced the urgency for fiscal consolidation, which should aim at spending restraint at all levels of government and controlling ageing-related spending increases. A stronger fiscal framework including spending rules, multi-annual budgeting and a larger role for independent analysis and assessments would reinforce the political commitment towards fiscal sustainability.
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12-Jul-2011
High population and energy intensities and concentrated agriculture put strong pressure on Belgian environment. To minimise the costs of achieving environmental goals polluters should face the marginal costs of the externalities they impose, requiring higher reliance on environmental taxation. Moreover, there is a need for reviewing the division of environmental responsibilities to reduce the costs of lack of coordination and harmonisation of policies in light of economies of scale and cross-border effects.
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12-Jul-2011
Meeting the challenge of ageing for Belgian public finances requires a sustainable burden sharing of fiscal consolidation among all levels of governments. The commitment can be reinforced by tighter spending control and increased role of independent fiscal institutions at all levels.
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