MEPs approved a resolution on Wednesday drafted by Belgian ALDE MEP Philippe De Backer, parliament's rapporteur on the implementation of European semester economic reform priorities for 2014. There were 426 votes in favour to 240 against, with 10 abstentions.
The report found just 10 per cent of country specific recommendations (CSRs) for 2013 were implemented in full and little or no progress was made on 45 per cent.
"I am happy that the report won the backing of a majority of parliament. It gives a clear signal that we have to get on track with implementing the necessary reforms and that flexibility can apply only if a reform agenda is set in motion. This is sorely needed, given the fragile state of the European economy," De Backer said.
Chair of parliament's economic and monetary affairs committee Roberto Gualtieri said that "the rules give some room for temporary deviation" but there is a need to differentiate between flexibility within the rules and breaking them.
"I think this report, which focuses on country specific recommendations, is exactly in line with the Juncker commission", adding that the report "is a strong call to the commission to deliver", said Gualtieri.
Just 10 per cent of country specific recommendations (CSRs) for 2013 were implemented in full and little or no progress was made on 45 per cent
Dariusz Rosati, EPP group shadow rapporteur on the report noted, "what is at stake is the very credibility of the EU and its ability to definitively overcome the current crisis."
"This means that governments are not respecting what they agreed in Brussels. As a result, macroeconomic imbalances still persist, progress in implementing structural reforms is slow and uneven, and strong economic growth in Europe is still to come".
The parliament "should support the commission in its efforts to fully use the framework of the European semester to improve economic governance in Europe", Rosati concluded.
Martina Dlabajová, ALDE Czech MEP said the economic reform measures within the semester commitments were an "absolute priority" for creating jobs and growth.
"Artificially created jobs will disappear as fast as they were magically invented. The first step to take is to start narrowing the skills mismatch in the EU through investing in modernisation of education and training systems, in particular in dual learning skills, and facilitating the transition from school to work.
The young generation of today brings forward the necessary skills of tomorrow. It's Europe's job to make sure their ambitions are met."
Further comment came from Marisa Matias of the GUE/NGL group, who said "If you really want budgetary consolidation, what you have to do is tackle the real problem we have, which is unemployment."
She noted that "none of the goals put forward in economic policy under the European semester have actually ever been reached. Let's call a spade a spade - this is a budgetary policy that is against growth."
De Backer's report is, in Matias' view, "coming up with more of the same which has been disastrous for the European economy. We can't support a proposal which keeps attacking periphery economies."
MEPs will now ask the commission to deliver quarterly reports on progress made in implementing CSRs, with De Backer concluding that "only by modernising our economies, making them more competitive and attracting public and private investments, can Europe get back on track."