Europe 2020

Europe 2020 is the successor of the Lisbon Strategy, which expired in 2010.

The target of the Lisbon strategy was to position the EU as the world’s most competitive and dynamic knowledge-based economy by 2010. In close connection with the Lisbon Process, Member States subscribed to the "Barcelona Target" of devoting 3% of their GDP to research and development by 2010. Although considered arbitrary by some member states (while some nations are still aiming at 2% in 2010, frontrunners are meanwhile ranging at 4% and above), the 3% target proved successful as a trigger for broad national investment in R&D.

In March 2008, the European Council opened a discourse on the future of the Lisbon Process post-2010 and on ways towards a European Globalisation Strategy. Discussions underway at both national and European level gravitate around a comprehensive and co-ordinated approach towards European growth on the global markets, integrating the lessons learned from the Lisbon Process and sector initiatives such as the European Research Area.

As a result, Europe 2020 was published by the European Commission on 3 March 2010.

The aim of the EUROPE 2020 strategy is to turn the EU into a smart, sustainable and inclusive economy, delivering high levels of employment, productivity and social cohesion.

EUROPE 2020 puts forward three mutually reinforcing priorities:
– Smart growth: developing an economy based on knowledge and innovation.
– Sustainable growth: promoting a more resource-efficient, greener and more competitive economy.
– Inclusive growth: fostering a high-employment economy delivering social and territorial cohesion.

To this end, the Commission proposes the following EU headline targets:
– 75% of the population aged 20-64 should be employed.
– 3% of the EU's GDP should be invested in R&D.
– The "20/20/20" climate/energy targets should be met (including an increase to 30% of emissions reduction if the conditions are right).
– The share of early school leavers should be below 10%, and at least 40% of the younger generation should have a tertiary degree.
– 20 million less people should be at risk of poverty.

The EU’s Heads of State and Government discussed the strategy at their meeting in March 2010 and agreed on its essential points. The strategy will be officially approved when they meet again in June 2010. By this date, member states will submit their national objectives concerning the five core targets of Europe 2020.

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