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13 May 2005 13:10  Europe needs growth rates twice


Euro zone finance ministers are set to discuss boosting the bloc's sluggish economic growth at an informal meeting starting on Friday as fears grow of a slowdown. At the talks in Luxembourg they will also tackle how to strengthen the euro zone's voice in international organisations. On Saturday ministers from all 25 European Union states will try to narrow differences on the EU's long-term budget and find ways to raise more money for the world's poorest countries, including through a possible tax on airline tickets or jet fuel. The Commission believes Europe needs growth rates twice as strong to maintain its cherished social model as the population ages and the continent faces tough global competition. EU leaders agreed in March that to accelerate growth the EU must invest more in education and research and development, aim for stable public finances, prudent fiscal policies and support competition and the liberalization of the internal market.
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