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    EU Leaders Acknowledge Poor Condition of Bloc’s Economy

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    The European Union leaders acknowledged during the summit in Brussels on Friday the poor condition of the bloc's economy, which is reflected in low GDP growth and high unemployment levels.

    BRUSSELS, October 24 (RIA Novosti) - The European Union leaders acknowledged during the summit in Brussels on Friday the poor condition of the bloc's economy, which is reflected in low GDP growth and high unemployment levels.

    "The economic and employment situation remains our highest priority. Recent macroeconomic developments are disappointing with low GDP growth and very high persisting levels of unemployment in much of Europe as well as exceptionally low inflation," the summit's concluding document said, calling for urgent steps to boost jobs and economic growth.

    "Structural reforms and sound public finances are key conditions for investment," the document noted, adding that the European Council supports the initiative by European Commission to mobilize 300 billion euro of additional investments from public and private sources over the period 2015 – 2017.

    Apart from the economic issues, during the two-day summit, the EU senior officials have discussed the threats of Ebola virus, the climate change, the measures towards increasing the use of renewable energy and the current situation in Ukraine, paying particular attention to the settlement of the Ukraine-Russia gas dispute.

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    European Union, unemployment, GDP, economy
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