EU leaders set seal on jobs and growth package

EU leaders today set the seal on a jobs and growth package designed to boost Europe's ailing economies.

EU leaders today set the seal on a jobs and growth package designed to boost Europe's ailing economies.

At the end of a summit in Brussels they agreed to submit "national reform plans" to drive forward the so-called Lisbon Agenda, increasing science and research spending, stepping up investment and maintaining momentum towards the goal of making the EU the world's most dynamic economy by 2010.

And despite French objections the leaders agreed to press ahead with opening up the continent's lucrative services market, allowing professionals from accountants to hairdressers to work freely across the EU.

A spokesman said that the "Services Directive" would continue on its legislative path even after an outburst over dinner last night from French President Jacques Chirac, who declared that "ultra-liberalism is the communism of our current days".

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The other leaders refused to shelve the Directive but agreed changes to the wording to help President Chirac sell the deal to voters at home before the French referendum on the EU Constitution on May 29th.

The summit meeting also endorsed new rules agreed by finance ministers three days ago on running the single currency.

The move, coupled with the changes to the Lisbon Agenda, should give a boost to flagging EU economies, easing EU state aid rules, slashing business red tape, boosting small firms and helping lift EU-wide employment up from today's average 63 per cent to 70 per cent by 2010.

But "selling" the jobs and growth package to the public in time to win "yes" votes in the forthcoming Constitution polls will be the hardest part.