Translation of "procédé économique " (French → English) :

2. Highlights that cohesion policy has proven its capacity to react quickly with flexible measures to tackle the investment gap for Member States and regions, such as reducing national co-financing and providing additional advance payments, as well as redirecting 13 % of total funding (EUR 45 billion) to support economic activity and employment with direct effects; considers it essential, therefore, to carry out a substantial in-depth medium-term review of objectives and funding levels in line with any developments affecting the social and economic situation of the Member States or any of their regions;

2. Welcomes the recognition of the need for growth-friendly fiscal consolidation; urges the Commission to turn this priority into concrete recommendations to the Member States and for the EU as a whole, including those under economic adjustment programmes, so that they not only address fiscal consolidation but also structural reforms that lead to real, sustainable and socially balanced growth, employment, strengthened competitiveness and increasing convergence;

1. In order to ensure closer coordination of economic policies and sustained convergence of the economic performance of the Member States, the Council shall conduct multilateral surveillance as an integral part of the European Semester for economic policy coordination in accordance with the objectives and requirements set out in the Treaty on the Functioning of the European Union (TFEU).

53. Notes that the increase in unemployment and government debt and the reduction in growth caused by the economic crisis are at odds with the sustainable public finance objective; notes the need for the Member States to consolidate their accounts and improve the liquidity of public finance in order to lower the cost of debt, but also the need for this to be done in a balanced way and within a reasonable time frame, taking into account the particular circumstances in the Member States; stresses, however, that indiscriminate cuts in public investment, research, education and development will have a negative impact on prospects for growt ...[+++]h, employment and social inclusion, and considers, therefore, that long-term investment in these areas must continue to be promoted, and where necessary expanded;

Secondly, countering relocation which is an objective economic process involving an effort to reduce manufacturing costs and thus improve the competitiveness of businesses in the global economy.

We must all become more competitive and abandon the economic ways of the past.