The European Parliament approved two resolutions which calls on Member States for a deeper economic policy coordination and to act on structural reform recommendations besides to improve transparency. The resolutions which are a reaction to the Commission's annual growth survey and employment guidelines, also call for more effort on growth, employment and poverty.

MEPs call, with regard to the recent published Commission's annual growth survey, on the European Council to ensure that fiscal consolidation does not increase poverty or hamper efforts to tackle unemployment and in particular youth unemployment. They therefore propose introducing, in cooperation with the social partners, a Youth Guarantee scheme to secure the right of every young person to be offered a job, an apprenticeship or training after four months of unemployment. The European Commission recently published a report which shows concerns on the raise of youth unemployment in the EU. In the same resolution, MEPs also express their concerns about Member States' commitments as set out in national reform programmes, which they say are insufficient to achieve the Europe 2020 headline targets for employment, education and poverty reduction.

On the second resolution approved by MEPs, the text says that budgetary, growth and employment measures need to be taken together. MEPs add that it is needed to build confidence among investors, consumers and citizens and argue that the Commission's AGS document does too little to address it. They ask the Commission to shed more light on what Member States are doing and not doing as regards implementing the reform recommendations they receive.

Furthermore, MEPs call on the European Council to set up a tax on financial transaction. In January 2012, most MEPs at the Economic and Monetary Affairs Committee issued a positive vote to this new tax. The resolutions also underlines that limited implementation of these reform recommendations will stall growth. Additionally, banks should be made to lend more to the real economy and calls for legislative proposals on bank crisis management before the summer, according to the text.