In a recommendation from the European Council, published in the OJ on the 27th of May 2008,  The council gave its guidelines on how to make Europe a more attractive place to invest and work.

The council declared that the attractiveness of the European Union as an investment location depends, inter alia, on the size and openness of its markets, its regulatory environment, the quality of its labour force and its infrastructure. To extend and deepen the internal market all round improvements are needed especially in the single market. This may be done by continuing efforts to tackle tax fraud, eliminate harmful tax competition and through strengthened cooperation on taxation between Member States and, wher appropriate, at European level, while respecting national competences. The text was part of a full recommendation from the Council for full macroeconomic policies and reforms within the Euro Area.

The council recommendations were:

1. To extend and deepen the internal market.
2. To ensure open and competitive markets inside and outside Europe and to reap the benefits of globalisation.
3. To create a more competitive business environment and encourage private initiative through better regulation.
4. To promote a more entrepreneurial culture and create a supportive environment for SMEs.
5. To expand, improve and link up European infrastructure and complete priority cross-border projects with the particular aim of achieving a greater integration of national markets within the enlarged EU.

The official text is available from the EUR-Lex, the website of the Official Journal of the European Union.