Employment insurance is not a welfare system, but an instrument of economic stabilization.

EUROVOC descriptor: economic recession budget deficit EU control public debt economic stabilisation coordination of EMU policies Eurogroup (euro area) financial aid

The pre-conditions for progress in regional economic integration remains the settlement of regional security issues and the achievement of economic and political security.

The meeting was attended by representatives of the IMF, the World Bank, the EIB, the EBRD, the Paris Club, the OECD and the IEA. 2. Since their last meeting at Ministerial level on July 4, the international economic environment within which the countries of central and eastern Europe are pursuing their policies of economic stabilisation, structural adjustment and the transition to market economies has changed in the following respects: - a deterioration in the terms of trade of the central and eastern European countries resulting fro ...[+++]m the ongoing necessary shift to hard currency accounting and payments in intra-Comecon trade; - uncertainty concerning the supply of oil and gas from the Soviet Union, both with respect to deliveries and price; - the impact of the crisis in the Gulf, notably the increase of oil prices, the interruption of supplies and the loss of income from trade, service contracts and workers' remittances.

The objectives of the EU should include: - the establishment and reinforcement of democratic political institutions which guarantee the rule of law, human rights and fundamental freedoms; - the reinforcement of civil society and the strengthening of non-governmental bodies and cultural and educational institutions; - support for economic stabilization and transition to market economies; - the rebuilding and modernization of energy, water, transport and telecommunications networks; - the development of the private sector, specially smaller firms and the promotion of investments; - the establishment of open, free and normal economic ...[+++] relations between the states of former Yugoslavia; - the participation of the countries concerned in the open international economic system; - the development of trade and cooperation with the European Union and other international partners.

Welcoming the signature of the Agreement, Sir Leon Brittan, European Commissioner for external economic relations, issued the following statement: "By creating a relationship between the European Union and Russia rooted in friendship, cooperation and mutual economic interest, this agreement marks a milestone on the road towards greater economic and political stability across the entire continent.