Lisbon Strategy

The current “growth and jobs” strategy is coming to an end in December 2010 and a new overarching European political strategy is being defined. The new strategy is to define the political priorities to be pursued in the coming decade, as well as their implementation mechanisms.
Besides being part of the exit strategy of the current economic crisis, the “EU 2020” strategy is going to shape the social, economic and environmental environment of European businesses, addressing the major challenges Europe has to tackle in order to maintain its role as a global economic player.

In March 2000, at the Lisbon Summit European leaders committed themselves to make Europe the most dynamic and competitive economy in the world by 2010. However, just a few years after the launch, it was clear that Europe would not meet the objectives set in the framework of the Lisbon Agenda.

With the relaunch of the Lisbon Strategy at the 2005 Spring Summit, the growth and jobs agenda moved to the centre of the economic reform process. Also because of the enlargement processes (2004 and 2007) and the extension of the Internal Market to the new Member States, Europe enjoyed economic growth and job creation until late 2007. The effects of the sub prime crisis in the USA in summer 2007 started to gradually spill over in Europe throughout 2008, and when the financial crisis hit the USA in September 2008, the effects on the real economy were felt very rapidly worldwide, leading to the adoption of a European economic recovery plan by the European Council in November 2008.

With view to these circumstances, it is clear that the European “growth and jobs” targets are not going to be met by the end of 2010, and that additional efforts are needed to get the European economy out of the crisis and back on the track of growth.

Europe’s post 2010 growth and jobs strategy, the “EU 2020”, is being developed against this background. Besides the exit of the economic crisis, major economic and societal challenges are also to be addressed (demographic development, energy and environmental questions, climate change for instance) in order to make the EU by 2020 a dynamic, competitive, knowledge based sustainable society.

The basis of a thriving economy are dynamic and competitive businesses. Chambers of Commerce and Industry at all levels are actively involved in fostering entrepreneurship and promoting a more business friendly environment. They have consequently a keen interest in a business friendly, sustainable economic and social agenda for the coming 10 year period which will help Europe to become a front runner in the global economy.