declar council ecofin minist meet council issu januari euro realiti mark end process culmin fulfil econom condit success launch council ecofin minist meet council signific progress made member state achiev price stabil sounder public financ converg process contribut high degre exchang rate stabil histor low interest rate improv econom condit economi move singl currenc enhanc condit strong sustain inflationari growth conduc job rise live standard elimin exchang rate risk particip member state reduc transact cost creat broader effici financi market increas price transpar competit decis step singl market minist strongli commit action realis full benefit econom monetari union singl market interest citizen action includ closer coordin econom polici confid full implement conclus dublin amsterdam luxembourg european council sound basi perman high degre financi stabil smooth function emu come year strong sustain inflationari growth continu base member state econom converg sound sustain public financ prior condit growth higher employ stabil growth pact mean secur object increas scope nation budget deal futur challeng accord pact start implement regul strengthen surveil budgetari posit surveil coordin econom polici juli commit ensur nation budget object set fulli met take time correct action council agre earli consider member state budgetari intent light framework object stabil growth pact point minist state particip euro area decid meet inform come month start monitor work accord luxembourg european council resolut econom condit develop expect member state opportun reinforc budgetari consolid reach medium term object govern financi posit close balanc surplu embodi commit stabil growth pact higher debt gdp ratio particip member state greater effort reduc rapidli end addit maintain level primari surplus complianc commit object stabil growth pact measur reduc gross debt put place debt manag strategi reduc budget vulner minist undertak submit latest end nation stabil converg programm reflect import element council reiter respons budgetari consolid li remain member state accord provis articl tec commun liabl assum commit member state prejudic object provis treati agre econom monetari union invok justifi specif financi transfer work budgetari consolid complement increas effort improv effici economi enhanc favour environ growth high employ social cohes context forward meet shortli social partner econom monetari union social partner concern parti initi creat condit combat unemploy young peopl long term unemploi low skill conclus luxembourg meet european council commit plai part implement rapidli nation employ action plan drawn light employ polici guidelin council ecofin plan contribut prepar cardiff european council subsequ european council attach import increas degre growth translat addit employ put emphasi inter alia structur reform make product labour capit market effici improv adapt labour market order reflect wage product develop ensur nation educ train system effect relev employ seek encourag entrepreneurship notabl attack administr obstacl face enabl easier access capit market ventur capit fund small medium size enterpris increas tax effici avoid harm tax competit address aspect social secur system view ag popul council intend establish light procedur fulli respect subsidiar principl monitor progress econom reform year prepar broad econom polici guidelin draw short assess progress plan member state commiss product capit market employ action plan council regul ec juli oj