decis council repres govern member state meet council juli adopt medium term econom polici programm eec council european commun repres govern member state meet council regard treati establish european econom commun preambl thereto articl thereof regard council decis eec februari attain high degre converg econom polici member state european econom commun articl thereof regard commun commiss draft medium term econom polici programm regard opinion european parliament econom social committe consult commiss propos submit opinion time limit set council articl eec treati absenc opinion prevent action econom polici pursu member state meet object set articl treati decid sole articl medium term econom polici programm set annex adopt member state express intent act accord guidelin contain programm constant review period applic brussel juli presid moeller oj oj annex medium term econom polici programm programm develop defin medium term strategi achiev number econom polici object programm quantifi plan kind framework lai guidelin nation polici polici commun level defin element strategi concret measur realiz strategi depend econom situat structur member state broad agreement chief medium term object contain econom polici committe preliminari draft achiev sustain balanc growth improv employ higher invest promot structur chang progress fight inflat parallel improv competit economi member state opinion differ prioriti object time measur achiev improv employ stabil member state felt medium term employ situat improv consist stabil polici monetari budgetari incom polici circumst measur stimul global demand view improv employ situat short term make achiev medium term object difficult member state view ambit establish time broad equilibrium implement medium term strategi abandon select support domest demand advis order achiev rapid improv employ situat condit recoveri invest member state essenti adjust effort accompani resolut structur action affect notabl industri structur trade incom employ work share measur year elaps submiss draft programm econom environ deterior cyclic upturn slow start econom trend commun remain larg unsatisfactori notabl growth invest employ unemploy employ posit matter increas concern member state draft programm prepar progress achiev reduc inflat rate time diverg price cost develop member state widen diverg narrow last monetari stabil commun achiev order prevent frequent central rate adjust undermin credibl european monetari system implement stabil measur import countri price cost increas remain high reduc depend energi petroleum import fallen partli result declin econom activ partli real energi save due structur adjust countri dynam polici domest energi suppli commun deflect effort achiev progress reduc petroleum consumpt develop crude oil price commun balanc payment deficit smaller expect partli reduct oil import evolut member state problem converg aris actual direct econom polici member state mid part remain broad framework guidelin set draft programm point deserv mention measur decid promot invest activ employ effort made moder pai rise countri budget deficit larg effort made limit reduc growth public expenditur case restructur public budget insuffici present econom outlook sign cyclic recoveri process slow start upturn endang high interest rate excess structur budget deficit concern rise unemploy reduc sustain econom recoveri persist high inflat rate countri situat requir strengthen forc recoveri creat greater employ opportun polici requir account develop situat differ posit member state emphas common aim seek achiev greater converg coordin nation polici commun level individu commun polici contribut structur adjust reduc diverg member state economi attent creat socio econom climat promot reviv invest activ improv competit european economi specif employ polici measur urgent measur promot vocat train young peopl commiss shortli put forward report practic measur initi promot invest econom polici committe examin due time essenti element strategi foundat medium term approach present circumst member state attach prioriti individu econom polici object stanc econom polici differ suffici regard paid chief common medium term object strengthen forc underli growth basi progress stabil creat condit sustain econom recoveri requir closer converg econom polici committe intend discuss medium term develop problem regular interv present result council carefulli examin mix propos strategi progress made field inflat public financ balanc payment equilibrium