16 March 2005
Long-term global economic challenges and opportunities for Europe
Building on the analysis set out in the Treasury’s Pre-Budget Report paper ´Long-term global economic challenges and opportunities facing the UK´, this paper looks at the specific long-term global economic challenges and opportunities facing Europe in the coming decade, and discusses how Europe can best respond to them. In this context, it also sets out how these challenges will inform the United Kingdom’s Presidency of the European Union during the second half of 2005.
The paper notes that at each stage in its history, Europe has come to recognise the need for change, adapting its policies and institutions in response to the challenges of the time. Whereas in the past Europe tended to focus on internal policy issues, it must now build on the historic achievement of enlarging the Union from 15 to 25 Member States, and look outwards to rise to the challenges associated with the new global trends.
Therefore, the Government will aim, through its EU Presidency and beyond, to develop a consensus on the need for a more Global Europe: a Europe, which by becoming more outward-looking and embracing greater flexibility in labour, product, and capital markets, delivers high employment for its citizens. At the same time a Global Europe must step up to its responsibilities to take action to reduce international poverty, advance fairer trade and support the drive to tackle climate change.
"Long-term global economic challenges and opportunities for Europe" is available below in Adobe Acrobat Portable Document Format (PDF). If you do not have Adobe Acrobat installed on your computer you can download the software free of charge from the Adobe website. For alternative ways to read PDF documents and further information on website accessibility visit the HM Treasury accessibility page.
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Related links
- Trade and the global economy
- Trade and investment white paper (BERR website)