Lisbon goals for Europe only achievable with national economic reforms

"Financing productivity growth - the Lisbon strategy and some unanswered questions" - Forum of the Association of German Banks in Berlin

Berlin, 2 June 2005 - "The rejection of the EU constitution by the French and the Dutch is a warning shot. But their decision must not be the end of the Old Continent's political and economic unity", said Professor Manfred Weber, General Manager and Member of the Board of Directors of the Association of German Banks at today's Lisbon Strategy Forum in Berlin. Europe needed a new basis for European cooperation if it did not want to become incapable of acting. Politicians now had to find ways out of the blind alley for the EU.

"If the Lisbon goals are still to be achieved, politicians must send a clear signal that they are serious about Europe", Mr Weber added. Member states" decision to declare their European social security systems "untouchable" was likely to act as a brake on the process of structural change aimed at producing stronger growth and higher employment. At the same time, the halt called to the Services Directive meant that a large part of Europe's growth potential would remain untapped in the years to come. "We need the strength to carry out really radical reforms. It would be wrong to mourn missed chances in European policy and, in doing so, to lose sight of the responsibility that national economic policy-makers have. Only national governments can implement concrete reforms."

The reforms that the Association of German Banks feels are needed for faster growth in the EU are set out in a new brochure entitled "Mit der Lissabon-Strategie zu mehr Wachstum" ("Towards more growth with the Lisbon strategy"). This brochure, which is part of the "Daten, Fakten, Argumente" series, can be ordered or downloaded online at http://www.bankenverband.de/broschueren. It includes an English summary.

Brochure - summary [PDF - 152 KB]
Order German brochure