2. Rejects the principles and regulations of the EU economic governance which do not reflect adequately the profound imbalances within the EU; criticises the fact that these proposals intend to strengthen the preventive and corrective arms of the discredited Stability and Growth Pact which is tending to sink the economies of many Member States into a deep recession and to create very negative implications for the majority of European economies; calls to revoke the Stability and Growth Pact in parallel with the establishment of an Employment and Growth Pact which should foster public investment and fair redistribution of wealth;

Growth, employment and competitiveness in a knowledge society: developing and integrating research on the issues affecting growth, socio-economic stability, employment and competitiveness, covering topics such as innovation, education including life-long learning and the role of scientific and other knowledge and intangible goods on a global scale, youth and youth policy, adaptation of labour market policies, and national institutional contexts.

· Growth, employment and competitiveness in a knowledge society: developing and integrating research on the issues affecting growth, socio-economic stability, employment and competitiveness, covering topics such as innovation, education including life-long learning and the role of scientific and other knowledge and intangible goods on a global scale, youth and youth policy, adaptation of labour market policies, and national institutional contexts.

- Growth, employment and competitiveness in a knowledge society: developing and integrating research on the issues affecting growth, employment and competitiveness, ranging from innovation to education, including life-long learning, and the role of scientific and other national institutional contexts; the central role of knowledge and intangible goods in the production of economic, social and cultural wealth and for social and environmental well-being on a world-wide scale ; age and policies on aging, linked to the necessary changes to social and welfar ...[+++]e systems .

- Growth, employment and competitiveness in a knowledge society: developing and integrating research on the issues affecting growth, employment and competitiveness, ranging from innovation to education, including life-long learning, and the role of scientific and other national institutional contexts; the central role of knowledge and intangible goods in the production of economic, social and cultural wealth and for social and environmental well-being on a world-wide scale ; age and policies on aging, linked to the necessary changes to social and welfar ...[+++]e systems .

To maximise job creation, preserve competitiveness and contribute to the general economic framework, overall wage developments should be in line with productivity growth over the economic cycle and should reflect the labour market situation.