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European Economic Reform: Meeting the Challenge
March 2001
At the Lisbon European
Council last year, Europe's leaders committed themselves to an ambitious
ten-year strategy for economic reform. The vision agreed at Lisbon is
of a dynamic job-creating Europe, of a Europe that delivers on both
economic and social objectives to become the leading knowledge based
economy in the world.
Making this vision a reality is a major challenge: to raise the EU's
employment and productivity performance beyond that of the US by 2010.
Matching US performance on both measures would raise Europe's output
by forty per cent - equivalent to around five thousand pounds per person
per year. Meeting this challenge, and in particular restoring full employment
in Europe, is at the heart of creating a just and fair society.
This paper sets
out the background of this challenge and looks forward to the next
major milestone, the Stockholm European Council of 23 and 24 March
2001. It is structured in six Chapters.
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