27. Notes that, in its communication entitled ‘Europe 2020: a strategy for a smart, sustainable and inclusive growth’, the Commission proposes setting five headline targets for the EU, one of which is to reduce the number of people at risk of poverty by 20 million; points out that this target falls short of the initial ambitions of the Lisbon Strategy (to overcome poverty), which, regrettably, have not been achieved; believes that poverty and social exclusion must be eradicated by credible, concrete and binding measures; believes that this target is too low and that the objective of a poverty-free Europe must not be abandoned; takes ...[+++]the view that, in order to achieve this goal, appropriate measures should be taken and this absolute target should be combined with a target for reducing poverty in each Member State, in order to encourage every Member State to contribute to the task of achieving it, and should be made more credible with appropriate measures, particularly as regards the effectiveness of policies targeting those in need; believes that this target should be achieved through concrete and appropriate measures, in particular through the introduction of minimum income schemes by all EU Member States;

Appropriate measures — proportionate to the European Communities' financial interests — should be taken to monitor both the effectiveness of the financial support granted and the effectiveness of the utilisation of these funds in order to prevent irregularities and fraud and the necessary steps should be taken to recover funds lost, wrongly paid or incorrectly used in accordance with Regulation (EC, Euratom) No 1605/2002, Commission Regulation (EC, Euratom) No 2342/2002, Council Regulations (EC, Euratom) No 2988/95 of 18 December 1995 on the protection of the European Communities' financial interests , (EC, Euratom) No 2185/96 of 11 Nove ...[+++]mber 1996 concerning on-the-spot checks and inspections carried out by the Commission in order to protect the European Communities' financial interests against fraud and other irregularities and Regulation (EC) No 1073/1999 of the European Parliament and of the Council of 25 May 1999 concerning investigations conducted by the European Anti-Fraud Office (OLAF)

Appropriate measures — proportionate to the European Communities' financial interests — should also be taken to monitor both the effectiveness of the financial support granted and the effectiveness of the utilisation of these funds in order to prevent irregularities and fraud, and the necessary steps should be taken to recover funds lost, wrongly paid or incorrectly used in accordance with Council Regulation (EC, Euratom) No 2988/95 of 18 December 1995 on the protection of the European Communities financial interests , Council Regulation (Euratom, EC) No 2185/96 of 11 November 1996 concerning on-the-spot checks and inspections carried ou ...[+++]t by the Commission in order to protect the European Communities' financial interests against fraud and other irregularities and Regulation (EC) No 1073/1999 of the European Parliament and of the Council of 25 May 1999 concerning investigations conducted by the European Anti-Fraud Office (OLAF)

Appropriate measures should also be taken to prevent irregularities and fraud and the necessary steps should be taken to recover funds lost, wrongly paid or incorrectly used, in accordance with Council Regulation (EC, Euratom) No 2988/95 of 18 December 1995 on the protection of the European Communities financial interests , Council Regulation (Euratom, EC) No 2185/96 of 11 November 1996 concerning on-the-spot checks and inspections carried out by the Commission in order to protect the European Communities' financial interests against fraud and other irregularities and Council Regulation (Euratom) No 1074/1999 of 25 May 1999 concerning in ...[+++]vestigations conducted by the European Anti-Fraud Office (OLAF)

10. If, despite the measures taken by the competent authorities of the home Member State or because appropriate measures are lacking in the home Member State, the institution persists in breaching the applicable provisions of the host Member State's requirements of social and labour law relevant to the field of occupational pension schemes, the competent authorities of the host Member State may, after informing the competent authorities of the home Member State, take appropriate measures to prevent or penalise further irregularities, ...[+++]including, insofar as is strictly necessary, preventing the institution from operating in the host Member State for the sponsoring undertaking.

10. If, despite the measures taken by the competent authorities of the home Member State or because appropriate measures are lacking in the home Member State, the institution persists in breaching the applicable provisions of the host Member State's requirements of social and labour law relevant to the field of occupational pension schemes, the competent authorities of the host Member State may, after informing the competent authorities of the home Member State, take appropriate measures to prevent or penalise further irregularities, ...[+++]including, insofar as is strictly necessary, measures to prevent the institution from operating in the host Member State for the sponsoring undertaking.