Europe at a Crossroads – Tough Choices Ahead
- The recent sovereign debt crisis and the rescue package exposed the fault lines in the Eurozone and blew holes in the complacent view that Europe is okay
- The only way forward is reform, which will involve tough, unpopular choices
Brussels, Belgium, 11 May 2010 – The World Economic Forum on Europe closed today in Brussels. Over 400 leaders from business, government, academia and civil society from over 40 countries participated. The meeting, held from 10 to 11 May, was under the theme Renewed Leadership, New Vision.
The recent sovereign debt crisis and the unprecedented rescue package announced Monday 10 May exposed the fault lines in the Eurozone and "blew holes" in the complacent view that Europe is okay. The events of the past week forced policy-makers, politicians and citizens to a crossroads, where there is no choice but to face up to the tough challenges Europe needs to overcome to get back on a growth trajectory. Leaders from both "old" and new Europe agreed at the World Economic Forum on Europe´s closing plenary that the only way forward is reform, which will involve tough, unpopular choices for politicians and citizens.
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