European Commission's consultation document on Strategy 2020 - full text

The worst economic and financial crisis in decades has hit Europe hard with a sharp economic 

contraction. The unemployment rate is set to rise to double digit figures in 2010, a level not 

seen for a decade. 

Collective action to save the financial system and to boost demand and confidence through 

public intervention has helped to prevent an economic meltdown. However, the crisis has 

weakened our resilience. The EU now needs to make a stronger effort to work together to 

make a successful exit from the crisis and to shape the next generation of public policies in a 

very different set of circumstances. 

The exit from the crisis should be the point of entry into a new sustainable social market 

economy, a smarter, greener economy, where our prosperity will come from innovation and 

from using resources better, and where the key input will be knowledge. These new drivers 

should help us tap into new sources of sustainable growth and create new jobs to offset the 

higher level of unemployment our societies are likely to face in the coming years.

However, we will only succeed if we design and implement a bold policy response. Otherwise the risk is 

a period of low growth which can only make it harder for Europe to tackle the major 

challenges we face today. 

European Commission's consultation full document can be downloaded below