Document: Presidency conclusions. Lisbon European Council: 23 and 24 March 2000

On March 23-24 the European Council met in Lisbon at the 'dot.com' Summit. The main issue discussed at this special Council meeting was the Union's desire to tackle unemployment and promote economic reform and social cohesion by developing a digital, knowledge-based economy.

At the Summit, EU leaders agreed that this decade should see Europe 'become the most competitive and dynamic knowledge-based economy in the world capable of sustainable economic growth with more and better jobs and greater social cohesion.' To achieve this ambitious goal, EU governments approved a strategy to:
- prepare for the transition to a knowledge-based economy and society by enhancing relevant policies, including the information society, research and development, structural reform, and the internal market
- modernise the European social model, by investing in people and combating social exclusion
- sustain the current economic outlook and growth prospects by applying appropriate macro-economic policies

The strategy will be implemented by improving existing mechanisms (the Broad Economy Policy Guidelines and the Luxembourg, Cardiff and Cologne processes) and by ensuring better coordination. The European Council will itself play a coordinating and guiding role and will meet every Spring to discuss economic and social questions.

The Council of the European Union and the Commission have been asked to draw up a comprehensive 'eEurope Action Plan' to be presented to the European Council when it meets in June. An annual progress report on employment, innovation, economic reform and social cohesion will be produced by the Commission.

EU governments believe that the measures proposed should produce an average economic growth rate of around 3% . By 2010, the intention is to raise the rate of employment from a current average of 61% to a target 70% , and to increase the level of women's employment from an average 51% today to more than 60% . UK Prime Minister Tony Blair suggested that the dot.com economy might create 20 million jobs.

http://news.bbc.co.uk/1/hi/world/europe/689410.stm http://news.bbc.co.uk/1/hi/world/europe/689410.stm

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