#Economics: PES Employment and Finance Ministers aim to strengthen the social dimension of the EU

Employment, Social and Finance Ministers of the Party of European Socialists held a joint meeting today in Brussels to exchange views on the social dimension in the European Semester and the Economic and Monetary Union. The Ministers reaffirmed that social and economic policies need to be better coordinated if the European Union is to achieve sustainable and jobs-rich growth that would increase the living standards of European citizens.

Nicolas Schmit, co-chair of the meeting and Labour, Employment and Immigration Minister of Luxembourg stated: "Our political family has always supported a better incorporation of social and employment issues to the fiscal and economic policy at the EU level. Today, we have made another step forward in building a wide coalition for progressive reforms to the Economic and Monetary Union and for a more social European Semester. Our joint objective is to support social convergence between member states and to prevent a competition to the lowest standards."

Lithuanian Finance Minister and co-chair of the meeting, Rimantas Šadžius, added: "This meeting has been a great opportunity to share ideas and coordinate positions between progressive employment and finance ministers. I am very satisfied with its outcomes – there is a clear agreement on the key issue which is our support for a Europe of sustainable welfare. Economic recovery and social progress are two sides of the same coin."

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