The European Union needs to raise its economic growth potential – on that, at least, the bloc’s 27 member-states and the European Commission agree. Otherwise Europe risks a speedy descent into relative economic decline, and its cherished “social model” – combining a liberal market economy with cradle-to-grave public services – will be increasingly unaffordable. Will the Commission’s latest proposals, published last week under the title “Europe 2020: A European strategy for smart, sustainable and inclusive growth”, do the trick? Read more
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