Keynote Speech – José Manuel Durão Barroso, President of the European
Commission
The President of the European Commission sounded an upbeat note on the future of
Europe in his keynote speech to a packed auditorium at the 2011 European Business
Summit. Brushing aside concerns that Europe was in decline, Barroso presented the
European Union as a ‘strong emerging power’.
‘The European Union today is far stronger than it was ten years ago’, he asserted, ‘with
five hundred million consumers, twenty-two million businesses, it’s the world’s biggest
trading partner, it has a unique and viable political, economic and social model based on
an open economy and societies with the rule of law.’
He went on to address the recent economic and financial crisis, stating that ‘Europe is
steadily recovering from the crisis and repairing its weaknesses’. Expanding on how this
is being done, Barroso explained: ‘we are putting in place a positive business
environment, constructing the innovative and competitive of Europe of tomorrow…[and]
we are enforcing our position in the world by strengthening our competitiveness and
working ever more closely with our partners.’
The European centre and its constituent parts will emerge stronger from recent
difficulties, Barroso argued: ‘the EU and Member States have shown the determination to
overcome difficulties together and addressing weaknesses in the banking, regulatory and
public finance systems. At the same time they have embraced a new model of economic
governance which strengthens the Euro area and to Europe as a whole.’
‘The European Council next month is expected to confirm a number of key decisions in
this field, he said, adding that ‘a new economic governance coupled with structural
reforms and more intensive policy co ordination will stabilise the foundations of Europe’s
economy and internal cohesion.’
Reflecting on Europe’s response to the economic crisis, Barroso said that ‘the leaders in
Europe are drawing the lessons from the crisis and understanding that they need to adapt
to a much more competitive environment.’ He went on to describe his vision for where
the region should aim to be over the next few years: ‘the common goal is for Europe is to
be a leader among global giants’ and ‘for it to be a top region to invest in and to learn
from’.
As further testament to the achievements of the European Union and its potential moving
forward, Barroso hailed its ‘stable currency, mobile workforce, smart and sustainable
growth.’
He went on to describe the Europe 2020 strategy, which seeks to re-enforce Europe’s
strengths, as a ‘long term growth roadmap with concrete steps and targets towards [a]
smart, sustainable, inclusive economy.’
Emphasising that ‘the task is not simple’, he finished with his key message to business
leaders: ‘we can only achieve this goal if business and regulators all pull in the same
direction’.
Peter Beckett