A declining Europe must focus on the nitty-gritty

Commentary feature by the vice-chairman of the Bank of Sweden and a former Swedish trade and industry minister. He discusses the challenges facing Europe and concludes: 'The unglamorous nitty-gritty of making our economies work better deserves more attention. The biggest threat to European progress is the mindset that nothing can be achieved unless sweeping reforms take place first. That is an excuse for remaining passive. The EU has a chance to regain growth, admiration and influence in the world if we can rid ourselves of the all-consuming preoccupation with grandeur and one-size-fits-all solutions. It is time to concentrate on concrete content, rather than framework and form'