Marius-Jan Radlo issues of reforming labour markets and social security systems were only mentioned in the strategy, but reform was not planned. Although they were included in the document, the actual formulated recommendations were very general and involved more consulting than reforming. Such a state of affairs was supported by political declarations cherishing the idea of a welfare state with an extensively developed social security system. These declarations precisely defined the limits of the reforms proposed in this field. These weaknesses, together with too many priorities and soft methods of implementation, made the Lisbon Strategy ineffective. Before the mid-term review of the Lisbon Strategy it became obvious that without deep reforms of labour markets and social security systems, it will be impossible to raise labour utilisation in the EU. LIMITED MID-TERM RENEWAL? The review of the strategy took place during the European Council's Brussels summit on 22 and 23 March 2005(European Council, 2005). It was not, however, a turning point in the EU's socioeconomic policy-making, but it nonetheless produced some positive effects. During the summit, support for growth and employment was defined as a crucial priority for the next five years of economic reform in the EU. While not questioning the three dimensions of the strategy, the economic dimension- aimed at fostering growth and jobs- was prioritised. Despite several reservations, there are some positive features of the renewed Lisbon Strategy. One of the most important is the fact that all EU member countries had to write down their own Lisbon strategies- National Reform Programmes(NRPs)- taking into account their specific economic problems but at the same time in line with integrated guidelines prepared for all countries. The NRPs became a part of broader reconstruction of the economic policy coordination system. The new economic policy coordination system- for reforms- was accepted and based on a three-year cycle. It started in 2005 and will have to be renewed in 2008. The new economic reform governance started with preparation of the Integrated Guidelines for Growth and Jobs in accordance with the procedures laid down in Articles 99 and 128 of the EC Treaty and on the basis of the European Council conclusions. This means that implementation of the revised Lisbon Strategy was anchored in two existing Treaty-based instruments of economic policy coordination. The guidelines were prepared by 84