commiss recommend juli member state measur combat recess eec financ econom minist council meet juli head state member govern european council juli express grow concern regard econom develop commun econom recess hit member state longer harder forese month ago rel success score fight inflat consum price continu grow fast fall intern extern demand industri product grow utilis capac deterior financi posit compani brought member state high level unemploy young peopl household firm cautiou decis consumpt invest measur put effect major member state order stimul economi limit effect risk upturn delai employ situat continu deterior juli year commiss present analysi present situat seri gener assess approv meet mention commiss take view principl condit perman improv conjunctur situat restor confid privat consum firm necessarili suppos stronger collabor social partner member state commun margin manoeuvr short term econom polici reduc persist vari degre balanc payment deficit larg budget disequilibria high level inflat risk involv condit macro econom reflationari measur measur member state larger margin manoeuvr take account close commerci financi relat commun rest world parallel develop conjunctur situat commun member state cooper close import partner view reanim world trade stabil intern monetari financi affair negoti take place framework gatt imf discuss raw materi produc countri commun plai construct role view improv world econom situat respect appear import aid develop countri affect petroleum crisi world recess financ balanc payment deficit commun action intern level indispens delai measur urgent commun ii reason commiss term articl treati set european econom commun address member state recommend member state mention paragraph addit measur coordin respect content time stimul econom situat discern effect autumn view ensur mutual consist econom polici commun greatest stimulu undertaken member countri posit regard current balanc payment rise price public financ member state fulfil condit feder republ germani benelux countri franc lesser extent denmark itali regard slow deterior labour market avoid reappear inflationari pressur measur adopt direct reduc unemploy flexibl capabl revers jeopard futur equilibrium public financ differ current econom structur institut situat member state mention paragraph ii measur adopt diversifi adopt aim achiev common object set paragraph measur form stimul public sector order notabl acceler exist invest programm construct transport commun protect environ social infrastructur adopt arrang field hous urban develop financi support local author programm encourag privat consumpt notabl improv financi situat poorest group eas credit consumpt encourag offer concess expenditur public interest energi economi support privat invest notabl establish adequ margin auto financ run agre polici moder interest rate detail definit measur outlin sketch recommend made coordin manner procedur agre council decis februari rel realiz greater degre converg econom polici member state eec notabl articl brussel juli commiss presid françoi xavier ortoli