France should make its pension system sustainable and improve its business environment. The Netherlands should reform its housing market by speeding up cuts in the tax deductibility of mortgage interest. Slovenia should improve governance and risk management at its banks.
These and numerous other recommendations for the EU’s 27 national governments emerged this week from the European Commission, the group’s executive arm. On paper they are sensible. Many an office in Brussels has been stuffed with similar material for years.
Yet in France the advice struck a nerve. President François Hollande observed tartly that the commission “cannot dictate to us what we have to do . . . On structural reforms, especially pension reform, it’s for us and only us to say what is the right way to attain the objective.”