Within the Integrated Guidelines, the Broad Economic Policy Guidelines provide guidance on macroeconomic and microeconomic policies in the Member States and the Community in the areas offering the greatest potential for improving growth and employment.

• In the first part, the BEPGs set out a wide-ranging programme of macroeconomic policies for growth and jobs. These guidelines are centred around the objective of macroeconomic stability as a prerequisite for ensuring a well-balanced economic expansion and the full realisation of current growth potential.

• The second part of the BEPGs sets out a comprehensive and coordinated set of microeconomic reform measures that will increase the efficiency and adaptability of the European economy and thereby raise its growth potential.

The Guidelines will serve as a basis for drawing up the national reform programmes which the Member States are asked to present in the autumn of 2005.