Three years after it was relaunched in 2005, the Lisbon Growth and Jobs Strategy is working. That is the main conclusion of the Commission's Strategic Report on economic reform across Europe, published today. The report demonstrates that the Lisbon Strategy is contributing to the recent much improved performance of the EU economy. Structural reforms are also starting to raise potential future growth, improving the long-term prospects for prosperity. However, some Member States have responded more robustly than others and some signs of "reform fatigue" have become apparent over the last twelve months. Europe will need to press ahead with further economic reforms at both Community and national level in the next cycle of the Lisbon Strategy to help it weather the impacts of global financial turmoil and higher commodity prices.
The report sets out a series of new policy initiatives to respond to this challenge and to reinforce Europe's efforts to shape and respond to globalization. It will be submitted to the Spring European Council in March 2008.
COM (2007) 803, 11.12.2007