EU economy is 20 years behind that of US, says study

Despite the current economic upswing, the EU is still losing ground vis-à-vis its global competitors – in particular with its current level of investment in R&D already reached by the US almost 30 years ago. Also, the EU is on the wrong path to reach the Lisbon goals,
being 3.4 years too late with regard to the target 70% employment rate by 2010.

These are some of the findings of a EUROCHAMBRES study launched in March 2007 comparing EU and US economies in terms of time distance, and forecasting how many years the EU will take to reach the Lisbon goals, and under what conditions of growth.

Eurochambres: Press Release, 5.3.07: EUROCHAMBRES study: EU economic growth insufficient to compete globally and reach Lisbon targets. Spring Summit must invert trend. http://www.eurochambres.be/PDF/pdf_press_2007/09-TimeDistanceStudy5Mar07.pdf

Eurochambres: Time Distance Study 2, March 2007 http://eurochambres.eu/PDF/pdf_Lisbon/070305-TimeDistanceStudy2.pdf

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