However, the most important task is to restore the health of the financial sector, to recognize the losses and to restructure debts so that assets can be put back to productive use. Structural reforms in the corporate sector should also be intensified. In the European Union fiscal policies should aim at a balanced budget or a surplus. The tax burden on the economy should be lowered. Measures should be taken now to prepare for the future cost of the aging population.
Employment creation is a primary tool to support growth.
To that end, the EU countries will continue reforming product and financial markets and improve the functioning of labor markets. This will raise Europe's productive potential and promote balanced developments in the world economy. In the EU accession countries further structural and institutional reform, especially enterprise restructuring and financial sector reform will promote high sustainable growth and facilitate accession to the European Union. The policy mix should be rebalanced if weaker external demand would widen current account deficits. The authorities of Turkey are determined to continue their efforts toward stabilizing and restructuring the economy.