The Stability and Growth Pact says the EU countries have to maintain a fiscal deficit no higher than 3 per cent of the GDP and reduce their public debt below 60 per cent of the GDP. All the countries have decreased the fiscal deficit, but not the level of debt.
The strategy for the prevention of a long-term unemployment adopted in 2016 by the EU Council repeats the mistakes of the "Youth guarantee" program. The new scheme focuses on taking formal actions, regardless of the economic conditions.
A year after announcing its plan, the European Commission has promised to accelerate the implementation of the capital markets union project. It is more and more clear that it has no alternative and Brexit may only foster this process.