 The Lisbon Strategy, Macroeconomic Stability and the Dilemma of Governance with Governments (Or Why Europe Is Not Becoming the World’s Most Dynamic Economy)Stefan Collignon Chapter 8 in The Future of EMU, 2009, pp 161-193 from Palgrave Macmillan Abstract: Abstract In March 2000 at the Lisbon European Council, the heads of states and governments promised to make the EU by 2010 ‘the most dynamic and competitive knowledge-based economy in the world, capable of sustainable economic growth with more and better jobs and greater social cohesion, and respect for the environment’. If this statement was meant to inspire enthusiasm, it has failed. Over-commitment and unachievable goals have ridiculed European policy-makers. Despite desirable objectives, national compliance with the Lisbon Strategy remains poor. The European Commission (2005a: 4) has explained this underperformance by ‘a policy agenda, which has become overloaded, failing coordination and sometimes conflicting priorities’. Yet, the official mid-term review did not explain the reasons for this co-ordination failure. It has exhorted governments ‘to do more reforms’, but few member states seem capable of achieving them and when they do so, the results are not as expected. Keywords: Interest Rate; Monetary Policy; Total Factor Productivity; Fiscal Policy; Euro Area (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-23389-8_9 Ordering information: This item can be ordered from Access Statistics for this chapter More chapters in Palgrave Macmillan Books from Palgrave Macmillan |
Is your work missing from RePEc? Here is how to contribute.
Questions or problems? Check the EconPapers FAQ or send mail to .
EconPapers is hosted by the
School of Business at Örebro University.