EU nations struggling to compete in global market, claims study
The Institute for Public Policy Research (IPPR) North think tank said the group of European nations is suffering a growing gap with the US and has only managed to keep pace with Japan.
Europe’s innovation performance has fallen below the average for countries comprising the Organisation for Economic Cooperation and Development and improvements in information and communication technology across the EU have not brought significant change, researchers said.
IPPR North found that economic rewards have, however, been increasing for owners of capital in the EU.
It added that there have been benefits for European consumers thanks to fewer trade and investment barriers, which have led to lower prices. Easier access to the EU for workers has also allowed employers to take on skilled people from other countries.
The think tank said the EU needs a stronger commitment from national governments to achieve the proposals of the Lisbon Treaty, a set of institutional reforms aimed at streamlining the work of member nations.
It also called for a single European patenting process and a European ‘information media space’ to generate cross-border debate on policy.
Sue Stirling, director of IPPR North, said: ‘Europe is running just to stand still in today’s global economy. If it does not adopt stronger policies to increase its competitiveness the number of losers in EU countries will continue to grow.’
EU structural economic change and the European Union: winners, losers and public policy options, www.ippr.org.uk
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