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Real Economy: What is the new economic agenda for Europe?

The latest episode of Real Economy on Euronews examines the new economic agenda for Europe that was the focus of discussions at the recently held 19th Brussels Economic Forum.

date:  11/07/2019

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The latest episode of Real Economy on Euronews examines the new economic agenda for Europe that was the focus of discussions at the recently held 19th Brussels Economic Forum. The main topics this year were: a new global order - whether Europe should be protectionist or be more outward looking, a new social contract for Europe - if a universal basic income is a good idea, and a new kind of growth - whether Europe should pursue a more inclusive form of economic growth. Many forum attendees pinned the rise of populism on growing income inequality. The forum also questioned the notion of economic growth being the principal indicator of a healthy economy. According to Valdis Dombrovskis, European Commission Vice-President for the Euro and Social Dialogue, “…we don’t need economic growth for the sake of economic growth. But rather for the sake of the well-being of the people. And we need sustainable growth, taking into account environmental factors and climate change.” Regarding Europe’s new economic agenda, Pierre Moscovici, European Commissioner for Economic and Financial Affairs, Taxation and Customs, said: “We must reform the eurozone further, we must reach a true eurozone budget, we must be much more ambitious in the future and being capable of creating convergence through stabilisation.” Moscovici also said that “protectionism is never the right answer,” and that although it needs to be reformed, problems can best be tackled in the multilateral framework.