European Union: challenges and dilemmas

摘要

In the last two decades, the EU trails behind the USA in both the rate of economic growth and the rate of growth of productivity. In addition, in the next 25 years, the EU will experience demographic challenges in the form of the rapidly ageing population and a substantial increase in the dependency ratio. To answer these challenges, the EU needs economic policies which will facilitate the utilization of new technologies. To do that and to alleviate the growing pressures on the European social and economic model, the significant economic reforms are necessary. The key to that is the EU-wide integration of the financial sector.