EIB study calls for decisive measures to raise Europe's competitiveness
Europe’s economic success lies in its ability to innovate and complete its single market – urgently, says a major study from EIB economists. “Restoring EU Competiveness” was published in Davos at the annual World Economic Forum meeting.
The study, which was written by EIB economists and project analysts from the EU’s public investment bank, calls for decisive measures from policymakers, investors and the private sector alike to raise Europe’s competitiveness for higher levels of productivity, employment and prosperity. It says the effects of the financial crisis have made structural weaknesses worse and contributed to a legacy of economic and policy challenges that need to be tackled. These have been made more pressing by the unprecedented rise in migration witnessed over the past year, which – in all likelihood – will continue in the near future.
The “Restoring EU Competiveness” study is an update of an EIB study prepared in July 2014. It has revised investment gaps, expanded its scope to include deeper analysis of the importance of the EU single market, and updated the section and data around EIB activities. It focuses on key enablers that require long-term investment and are critical to our future well-being. Its purpose is to help inform the identification of strategic priorities and show why action needs to be stepped up at the European level to revitalize long-term, competitiveness-enhancing investment in the EU.