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"Investing in people is the best investment we can make"
Commissioner for Employment, Social Affairs and Inclusion at the Irish Presidency Conference on the Social Investment Package
"Investing as early as possible to prevent hardship from arising later and ´preparing´ people to cope with life´s risks rather than simply ´repairing´, is the most effective way forward", said László Andor, European Commissioner for Employment at the Irish Presidency Conference on the Social Investment Package on 3 May 2013.
The Social Investment Package adopted by the European Commission on 20 February 2013 gives guidance to the Member States on how to carry out the structural reforms needed to make their social policy more effective and efficient. "Besides policy guidance, the EU also provides the Member States with financial support to their social investments", continued Andor, stressing that "if the EU’s efforts to meet its quantified objective for reducing poverty are to be credible, a minimum percentage of Cohesion Policy funding — amounting to at least 25% — must be devoted to investing in people and employment and social reform through the European Social Fund."
On the relevance of the Social Investment Package to EMU, Commissioner Andor concluded: "what the social dimension of genuine Economic and Monetary Union means is that its rules, governance mechanisms, fiscal capacity and other policy instruments will work both for economic efficiency and for social fairness. The reform of EMU needs to go hand in hand with further steps to foster its legitimacy and accountability in the eyes of our fellow Europeans".