President of the European Commission José Manuel Barroso has called for a twin track approach of stability and growth in Europe.
He said that it is vital to stay the course, to ensure that there is no let-up in the focus on stability.
He said that the fiscal treaty was designed in an intelligent way - allowing for adaptability while remaining focused on sustainability.
To regain competitiveness, he said, there must be an acceleration in structural reforms.
Member states should reduce taxes on labour to stimulate job creation, a theme, he said he would return to on a country by country basis at the end of the month.
Thirdly, he called for an increase in investment. He said that a Commission proposal to approve project bonds to make funds available without putting further pressure on public finances.
He said €230m in the current EU budget could be used to attract funding of up to €4.6 billion over the next two years for key infrastructure projects.
He said that he hoped that the EU budget to be agreed would reflect these priorities and that member states "which are calling for more measures to support growth will reflect this in their positions on the EU budget."
Speaking on the eve of Europe day the Commission president said "We should never forget how far we have come; where we were 60 years ago and where we are now - a project that started with 6 countries, now with 27"
He said that he was extremely pleased to "see the new momentum that is clearly building in member states to kick-start the stalled engine of European growth."
