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EU’s incomplete success story

EU’s incomplete success story
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First Published: Thu, Mar 22 2007. 12 10 AM IST
Updated: Thu, Mar 22 2007. 12 10 AM IST
It is difficult these days to imagine life in Europe without the EU... It is...one of the great success stories of economic development through shared sovereignty and common institutions, despite its many well-documented shortcomings. To succeed in the next 50 years, the EU needs to complete what it started in the past half-century. That sounds like an agenda lacking in ambition, at a time when the European economies are certain to be dwarfed in size by China and India, and soon by Brazil and Russia. But economic success should...(no longer) be defined in terms of Europe’s competitiveness versus the US...but in terms of (its) own needs. In particular, (it) will need a clearly defined strategy to raise productivity growth. Europe remains a global laggard, as the latest global productivity surveys have...shown.
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First Published: Thu, Mar 22 2007. 12 10 AM IST
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