Europe has enormous wealth in terms of intellectual, scientific, cultural and human resources. Yet, it is in danger of becoming a secondary region, as we seem to be incapable of bringing our strength to bear. To counter this trend, a paradigm change will be required. We need to liberate the human potential that we have in our institutions and organizations, by overcoming a culture adverse to innovation and entrepreneurship, counterproductive regulations, ineffective organizations and inadequate management practices.