European Union leaders will agree on Monday that the 27-nation bloc must boost growth and employment rates alongside fiscal consolidation to overcome the debt crisis, a draft statement obtained by Reuters showed on Thursday.
Many steps have already been taken over the past months to ensure financial stability and fiscal consolidation - this is a necessary condition for returning to higher structural growth and employment, the leaders' will say in their conclusions.
But it is not in itself sufficient: we have to actively enhance growth and competitiveness, so as to create jobs, preserve our social models, and ensure the well-being of our people, the statement said.
To achieve stronger growth, leaders will focus on making labour markets more flexible, on making better use of the European single market and creating easier access to financing for small and medium-size enterprises (SMEs).
Leaders will also call for quick progress towards greater tax coordination and prevention of harmful tax practices, the draft said.
The summit is also expected to agree on a new treaty among 26 of the EU's 27 member states aimed at tightening budget rules, and will finalise details of the euro zone's permanent bailout fund, the European Stability Mechanism.