7. EU Initiatives

The EU Recovery Plan and the drivers for growth in the EU Single Market for the period from 2008 onwards are the most important subjects appraised in this chapter. The EU Recovery Plan is critically evaluated in respect to regenerating economic growth, and especially related to job creation for under 25-year-olds, which was required owing to the high percentage of youth unemployment especially in the Southern European Member States. The monitoring plan is also evaluated including criticism of its perceived lack of effectiveness by independent experts. The EU Single Market is explored in terms of the stated drivers for growth, the investment plan to accomplish these goals and a specific strategy to enable economic growth in Greece as it received its third bailout, a reflection of the failure of previous EU intervention.