The European Commission has published a communication launching the new economic strategy “Europe 2020”. The proposal is based on a public consultation for which around 1500 contributions have been received. The Europe 2020 Strategy is succeeding the Lisbon Strategy (2000-2010), with particular emphasis on the areas of research and innovation.

The strategy identifies three key drivers for growth:

• smart growth (fostering knowledge, innovation, education and digital society)
• sustainable growth (making production more resource efficient while boosting competitiveness)
• inclusive growth (raising participation in the labour market, the acquisition of skills and the fight against poverty)

In its communication, the Commission underlines that the Europe 2020 Strategy can only be achieved in cooperation with the member states. Therefore, the strategy focuses on the monitoring of the implementation progress on the basis of five targets:

• 75 % of the population aged 20-64 should be employed
• 3% of the EU's GDP should be invested in R&D
• The "20/20/20" climate/energy targets should be met
• The share of early school leavers should be under 10% and at least 40% of the younger generation should have a degree or diploma
• 20 million less people should be at risk of poverty

In order to meet the targets, the European Commission proposes a number of flagship initiatives:

• Innovation union - re-focusing R&D and innovation policy on major challenges, while closing the gap between science and market
• Youth on the move - enhancing the quality and international attractiveness of Europe's higher education system by promoting student and young professional mobility
• A digital agenda for Europe - delivering sustainable economic and social benefits from a Digital Single Market based on ultra fast internet
• Resource-efficient Europe - supporting the shift towards a resource efficient and low-carbon economy
• An industrial policy for green growth – helping the EU's industrial base to be competitive in the post-crisis world, promoting entrepreneurship and developing new skills
• An agenda for new skills and jobs – creating the conditions for modernising labour markets, with a view to raising employment levels and ensuring the sustainability of our social models
• European platform against poverty - ensuring economic, social and territorial cohesion by helping the poor and socially excluded and enabling them to play an active part in society

The Europe 2020 Strategy will be on the agenda of the European Council on March 25/26, 2010, and, according to the Commission’s timeline, could already be approved in June 2010.