Abstract
“The Union has today set itself a new strategic goal for the next decade: to become the most competitive and dynamic knowledge-based economy in the world capable of sustainable economic growth with more and better jobs and greater social cohesion” was proudly declared at the March 2000 European Council summit in Lisbon, when the Heads of State and Government agreed on a common strategy for sustainable growth, the so-called Lisbon strategy. Although work has been done to stimulate economic reforms within the EU ever since the summit, the results so far have been meagre. The EU is therefore currently discussing a renewed Lisbon strategy and the necessity of “putting the work in a higher gear”.
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