TOWARDS LISBON 2.1 September 28, 2007 Why Europe needs Lisbon strategy Prof. Dr. Andrej Umek

Lisbon goals : T o preserve our live stile To keep up our traditional position in the world. Two mega trends: Globalization Rapid technological development, which reached the critical point

T o preserve our live stile

To keep up our traditional position in the world.

Globalization

Rapid technological development, which

reached the critical point

Europe is not successfully following the Lisbon strategy. Some examples: F or every one job lost to overseas competitors 1.2 jobs have created in US and 0.8 in Europe Economic growth lingers at below 2% a year while it has moved up to more than 3 % on average in America. Decline in productivity growth etc.

F or every one job lost to overseas competitors 1.2 jobs have created in US and 0.8 in Europe

Economic growth lingers at below 2% a year while it has moved up to more than 3 % on average in America.

Decline in productivity growth etc.

REVISING THE TRENDS – LISBON STRATEGY It is basically a matter of : Education Innovation Entrepreneurial spirit Simply increasing money for R&D (for example public investment) will never make it, since what is needed, is not merely more invention, but better 'innovation'

It is basically a matter of :

Education

Innovation

Entrepreneurial spirit

Simply increasing money for R&D (for example public investment) will never make it, since what is needed, is not merely more invention, but better 'innovation'

FIVE AREAS THAT MIGHT MERIT FURTHER EXAMINATION Which areas or sectors are most crucial to reform? Which are 'necessary', which are just 'nice'? Where have we failed and where have we succeeded in adapting to globalisation and why? How can the EU create and finance a more entrepreneurial environment where risks pay?

Which areas or sectors are most crucial to reform? Which are 'necessary', which are just 'nice'?

Where have we failed and where have we succeeded in adapting to globalisation and why?

How can the EU create and finance a more entrepreneurial environment where risks pay?

FIVE AREAS THAT MIGHT MERIT FURTHER EXAMINATION – cont. What policy lessons can we learn from the rapid growth of emerging economics? What concrete steps can Europe take to improve conditions for growth and innovation?

What policy lessons can we learn from the rapid growth of emerging economics?

What concrete steps can Europe take to improve conditions for growth and innovation?

MY PERSONAL VIEW Human resources Entrepreneurial spirit that results in sufficiently large investments, to put knowledge to work and to enhance the economic growth

Human resources

Entrepreneurial spirit that results in sufficiently large investments, to put knowledge to work and to enhance the economic growth

Thank you for coming. I am looking forward to your contributions. I am going to follow them with keen interest and open mind and am convinced that at the end of the day we will be at least a step wiser and able to adopt the Lisbon strategy more successfully. I wish that this conference will be interesting to you at least as much as it is interesting to me. I thank you all in advance for your interesting and valuable contributions.