It was supposed to be a historic meeting when EU leaders convened in March of 2000 to establish the Lisbon Strategy—a new goal for making the EU the ‘most competitive and dynamic knowledge-based economy in the world.’ Ten years later, the EU has realised that the goals of this strategy are not realistic, to say the least, especially given that Europe’s growth has been severely disrupted by the economic crisis. Therefore, last year, once again in March, the European Commission moved away from the Lisbon Strategy in favour of the more modest, but still ambitious Europe 2020 strategy, which aims to pave the way out of the crisis via three key aspects of growth: smart growth, sustainable growth and inclusive growth.

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