“Europe is facing a moment of transformation. The crises has wiped out years of economic and social progress and exposed structural weaknesses in Europe´s economy. In the meantime, the world is moving fast and long-term challenges such as globalisation, pressure on resources, population ageing, are intensifying.”
– Quote from Europe 2020 Strategy
The European Union and its membership nations have been hard hit in the current economic crises. Often in public dialogue, the EU and the Euro are presented as culprits, but this is a dangerous simplification.
The video below is made by the EU to present some key facts on the development but also on how it will be countered through development of the fiscal, banking and economic union and by the Horizon 2020 strategy for smart specialisation through research and innovation.