Annual Growth Survey 2012
Earlier than in 2011, the Commission presented the Annual Growth Survey (AGS) 2012 as a pre-opening of the European Semester 2012.
While AGS 2011 was criticised by the member states for not sufficiently addressing the smart, sustainable and inclusive growth aspects of Europe 2020 and their enablers, the AGS 2012 notes that fiscal consolidation has to be accompanied by measures to initiate growth. In its Annexes, the AGS 2012 presents macro-economic analysis and the Commission’s view on the progress made at implementing the EU flagship initiatives (Annex 1, 5pp Innovation Union).
While Annex 1 notes Europe’s loss of innovation competitiveness vis-à-vis China and Brazil, the AGS 2012 main document again largely fails to address the smart growth dimension and the link of science, research, technology and innovation to the EU’s growth potential.