Europe’s Lost Decade
On March 24, 2010, what all observers of European affairs have long known will be written in stone: the EU failed to attain the targets for economic growth, efficiency, and modernization set ten years ago in Lisbon. Rather than becoming “the most dynamic economy in the world,” the EU is losing ground.
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MILAN – “Never confess a failure. Whenever you are about to miss a target, just move the deadline. Sooner or later, you will make it.” This simple rule, largely followed in Eastern Europe in the socialist days, is also popular among European Union bureaucrats in Brussels today.