"Europe 2020 Strategy" - Post-Lisbon Policy of European Union Development

Abstract

The paper presents the European Union's development strategy within 2010-2020 - "Europe 2020" and discusses threats and problems connected with the strategy. It is the Union's low competitiveness in the world economy in relation to high living standard that is being considered the major problem. The financial crisis has proved that maintaining the high living standard by means of growing indebtedness cannot be continued in long-term. The development policy presented in the "Europe 2020" strategy will focus on overcoming recession and transforming the EU economy into more sustainable, "green" and innovative one. The economic growth is still perceived as the only way to overcome the crisis and reduce unemployment, although there is a visible shift towards "green economy" - based on knowledge, low emissions, promoting eco-friendly technologies, economising on resources, creating "new green" jobs and - at the same time - focusing on social cohesion. This is the vision of sustainable social market economy. However, stimulating the growth while restoring financial equilibrium undermined by the crisis will be a difficult task. The weakness of "Europe 2020" is the lack of suggested new mechanism that would guarantee the pursuit of commonly approved targets by the member states. (original abstract)