EU summit to focus on growth, jobs

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　　Despite "consistent and courageous²" efforts taken at European and national levels, "we have yet to tackle the most immediate³ fears and concerns of many of our citizens," European Commission President Jose Manuel Barroso said Wednesday, referring to weak growth and high jobless rate.

　　Speaking to the European Parliament, Barroso said "there is justified⁴ disappointment about the slow recovery of the real economy," and "unemployment figures are unprecedented⁵ and simply unacceptable."

　　The eurozone economy registered the sharpest decline over four years in the last quarter last year, while the single currency area recorded a jobless rate of 11.9 percent this January, the highest level since the EU statistics office started to release such figures in 1995.

　　Barroso lamented⁶ that "implementation⁷ of the Compact for Growth and Jobs is too low and too slow," saying that "there has not yet been enough commitment to address social obligations. We have to be sensible to social needs."

　　According to the draft conclusions prepared by the President of the European Council for the Summit, EU leaders would discussing measures to better utilize⁸ the "Single Market," "a key driver for growth and jobs."

　　The EU might also consider easing the regulatory burden on small businesses.

　　"The Member States and the Commission should take work forward on smart regulation in the light of the Commission's recent communications, with a specific emphasis on the needs of SMEs," said the draft conclusions.

　　In his speech, Barroso also highlighted trade policy as "part of our growth agenda," referring to the EU's recent decision to start negotiations⁹ with the US on a Transatlantic Trade and Investment Partnership¹⁰.

　　After agreeing the draft negotiating mandate¹¹ Tuesday, the European Commission will continue to push hard to bring these "economically very promising¹² talks to a successful conclusion," he said.

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