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Europe

Prodi: Radical Change Needed for EU to catch U.S.

Commission President Romano Prodi has called for a "radical change" in EU economic policy if it is to succeed in its ambitious goal to overhaul the U.S. and become the "most competitive economy in the world by 2010."

Speaking at a meeting of the European Economic and Social Committee, EU Commission President Romano Prodi said that the process is undergoing great difficulties. "If we want the Lisbon strategy to be a success, we need to radically change European economic policy," he said. EU Competition Commissioner Mario Monti echoed his sentiment. "How can we seriously try to become the most competitive economy in the world if we do not put our money where our mouths are," he asked and called for the EU economic goals to be given a higher priority in the EU budgetary period from 2007 - 2013. (EUobserver.com)

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