Europe 2020 Strategy and European Recovery

438 words | 2 page(s)

Sinking deep into Hoedl’s piece of research entitled “Europe 2020 Strategy and European Recovery”, no one can fail to note that it deserves a careful regard. Throughout the article, the author aims to provide an insightful reflection upon the major factors impeding the chances to establish “a new economy” across Europe. In concrete terms, an Austrian economist gives reasonable grounds for submitting that the Washington Consensus constitutes Europe’s major obstacle to sustainable economic development. As the author reiterates, the European Union is at the critical moment in its history, the time when member states must prove their ability to re-examine EU relations with the United States; from Hoedl’s perspective, re-orientating Europe’s policy towards America “would give more room to reduce economic disparities among the Member States” (2011, p. 13). Obviously, the author seeks to convince the masses that following the Lisbon Strategy posits as perhaps the best way to rejuvenate the economy.

Based on the key points of Hoedl’s discussion, it is high time for Europe to turn into an independent global player; and taming the dollar-dominated financial markets could serve as a basis for propelling Europe’s economic development. All things considered, one cannot but give the author credit for proposing a thoughtful excursus into specific issues stemming from United States-European Union relations; the thing is, by sharpening his focus on real reasons why Europe’s economic stagnation is happening now, Hoedl manages to arrive at a number of conclusions. In fact, the author concludes that financial expenditures must be directed towards seven flagship initiatives, which in turn would create conditions conductive to minimizing economic disparities. Broadly speaking, the article gives the chance to come to a firm understanding that the EU financial transaction tax should be implemented at the earliest opportunity, since this might potentially constitute the major step towards enhancing Europe’s competitiveness.

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Yes, “Europe 2020 Strategy and European Recovery” is worth studying carefully; an increased focus on a truly controversial dynamics of current issues in United States-European Union relations may lead Europeans to cast doubts on whether Europe’s foreign policy makes sense indeed. Both David Frum in “Trump’s Trip Was a Catastrophe for U.S.-Europe Relations” and Konrad H. Jarausch in “The Divisions that Damage the U.S.–EU Relationship” fail to explain to the average European citizen why European attitude towards America needs to change its character. On the whole, it becomes apparent that the article sheds the light on the ways to embed sustainability into economic development, and, in this context, Hoedl does a great job.

  • Hoedl, E. (2011). Europe 2020 Strategy and European Recovery. Problems of Sustainable
    Development, 6 (2), 11-18.

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