The European economy is facing many challenges: consolidating the current recovery, redressing public finances which have deteriorated in many countries, reducing unemployment which is still too high and preserving the social cohesion, preparing for the ageing process and in particular its financial consequences, but I think one of them is now the most important: improving Europe’s growth potential.
Its realisation is a prerequisite for meeting the other challenges mentioned. From the outset I want to make it absolutely clear that I am neither a eurosceptic nor a europessimist. So, I fully acknowledge and admire the resounding success European integration has achieved in two fields over the past few years.