EU Launches Economic Governance Crackdown

 Yahoo News:  Europe pressed governments to slice deficits and step up difficult structural reforms such as raising the retirement age as it kicked off a new era of tighter EU-wide economic governance on Wednesday.

“We are setting out to break new ground and to decisively improve the way in which we manage and coordinate our interdependent economies,” said European Commission president Jose Manuel Barroso.The move to tighten coordination across the 27-nation bloc, including the 17 eurozone states, aims to secure recovery after the global crisis, but more particularly break the manic cycle of debt drama unsettling Europe.

In an opening move, the EU’s executive arm, the European Commission, issued a first-ever Annual Growth Survey setting out 10 priorities, from reining in public debt to labour market reform.  Read more at Yahoo News.…..