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This note provides a summary assessment of Europe’s structural reforms including countries’ responsiveness to reform recommendations in recent years, a quantification of the economic impact of reforms, and structural reform priorities going forward.
It is a great pleasure to have the opportunity to address this Informal ECOFIN. I’d like to thank the Latvian Presidency for inviting me to speak to you and for their excellent leadership.
Mr. Gurría was in Riga to attend ECOFIN and meet with several high-level officials.
The OECD and the EU have worked hand in hand over many years to tackle some of the greatest challenges on the international tax agenda. Working together to ensure the coherence of global tax rules is absolutely critical – for governments and for business, coherency improves effectiveness, increases efficiency and reduces unnecessary compliance costs.
Mr. Gurría exchanged views with members of the European Parliament Committee on Economic and Monetary Affairs and met with Mr. Klaus Welle, Secretary-General of the European Parliament.
Last time I addressed the Committee in November 2013, we were still in crisis mode. Two weeks ago, the OECD released its Interim Economic Outlook and it seems that the Spring of 2015 has brought encouraging signs for the global economy. Lower oil prices and widespread monetary easing have raised the potential for the acceleration of growth that is so needed in many countries, especially in Europe.
The OECD Secretary-General Gurría welcomed the announcement and congratulated the Commission for the work done. "The European Commission’s initiative is another major step to tackle corporate tax avoidance.
La faiblesse des cours du pétrole et l’assouplissement monétaire dopent la croissance dans les grandes économies du monde, mais le rythme à court terme de l’expansion reste modeste, sur fond de taux d’inflation et de taux d’intérêt anormalement bas qui révèlent l’existence de risques d’instabilité financière, selon la dernière Évaluation économique intermédiaire de l'OCDE.
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This country note from Going for Growth 2015 for the European Union identifies and assesses progress made on key reforms to boost long-term growth, improve competitiveness and productivity and create jobs.
English, PDF, 2,158kb
The global economy continues to run at low speed and many countries, particularly in Europe, seem unable to overcome the legacies of the crisis. With high unemployment, high inequality and low trust still weighing heavily, it is imperative to swiftly implement reforms that boost demand and employment and raise potential growth.