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The European Union (EU) is going through one of the most difficult periods since its establishment, with multiple challenges facing the region’s policy-makers.
While many countries are struggling to recover from the worst financial and economic downturn since the Great Depression and some economies are even facing sovereign default for the first time in 60 years, political discontent is mounting. Some gloomy forecasts portend a lost decade for growth unless decisive action is taken at scale and speed to address the bottlenecks to reform that are strangling economic development. However, amid all of the short-term fire fighting, it is critical not to lose sight of the fact that to address the underlying concerns in the region, Europe must become more competitive.
While many countries are struggling to recover from the worst financial and economic downturn since the Great Depression and some economies are even facing sovereign default for the first time in 60 years, political discontent is mounting. Some gloomy forecasts portend a lost decade for growth unless decisive action is taken at scale and speed to address the bottlenecks to reform that are strangling economic development. However, amid all of the short-term fire fighting, it is critical not to lose sight of the fact that to address the underlying concerns in the region, Europe must become more competitive.
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