EU to make employment, lending and budgets its priorities for 2013


Reuters

BRUSSELS — European leaders will cite stronger public finances, normal bank lending and lower unemployment as their priorities this week in trying to pull Europe out of recession and shore up confidence in the euro. The goals, laid out in a draft agreement for a European Union summit on Thursday and Friday, are part of the bloc’s plan to coordinate economic policies as a means of taming its sovereign debt crisis.

Leaders will also focus on bringing unit labour costs down, boosting productivity and trying to ensure that countries never again rely on borrowing to fuel economic growth, one of the mistakes that led to the crisis in Greece.