I do not expect any changes to be made to the Treaty on Stability, Coordination and Governance as a result of the election of President Francois Hollande. Both before and after his election, President Hollande made clear his wish to see the Treaty complemented by an agenda for Growth and Jobs at European level, an approach the Government Strongly supported.
At its meeting on 28/29 July, the European Council adopted a ‘Compact for Growth and Jobs' which contains an ambitious programme of actions to be taken at national and European levels in order to increase investment and to stimulate growth. Ensuring its full implementation will be an important task in the period ahead.