Wednesday, January 26, 2005

EU: EU president shows a plan to bring the Euro economy out of stagnant mode.

"We must release Europe's enormous untapped potential," European Commission President Jose Manuel Barroso said in a statement released as he spelt out his 2005-2009 game plan to the European Parliament. "I believe that we must embark on a process of transformation as bold and as courageous as the single market in 1985, the launch of the single currency or the unprecedented enlargement of the European Union to 25 member states." The 12-page document was a response to the EU's spectacular failure to meet the goals it set itself in 2000 under the "Lisbon Strategy", a drive to make Europe the most competitive and dynamic economy by the end of this decade. Officials say the "2010" target will be quietly dropped when the Commission next week presents new proposals to meet the Lisbon goals. Barroso's paper proposes no grand new projects for the EU, instead aiming to "take the Europe we have and make it work". It also calls for Europe to become a more effective "world partner" but focuses less on foreign policy than the economic agenda."
Translation: " I got nothing, but look at the pretty words in my report, it sounds good."

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