Conference Paper

In March 2010, the European Commission (2010, preface) introduced Europe 2020 as marking “a new beginning” and having “new tools and […] new ambition”. The research questions guiding my paper are the following: Does Europe 2020 constitute a new beginning? Does Europe 2020 address the shortcomings of the Lisbon Strategy? Is Europe 2020 likely to succeed? The recent crisis illustrates that the EU needs to decide on how to address multiple and pressing challenges. As the member states are faced by similar challenges, adopting a common economic strategy appears to be sensible. However, in 2000 the Lisbon Strategy was also launched as an ambitious common strategy. Despite the substantial effort and resources which were invested, the Lisbon Strategy was a failure. The success of Europe 2020 will in large part depend on whether the lessons have been learned. I conducted a comparative analysis of two strategies. The analysis of key-documents and publications showed that policy content and implementation mechanism of Europe 2020 closely resemble those of the Lisbon Strategy. Further, I identified the main shortcomings of the Lisbon Strategy and analyzed whether Europe 2020 constitutes an adequate remedy. Here, I particularly focused on the open method of coordination (OMC) and found that many shortcomings of the Lisbon Strategy are likely to persist. Based on my findings, I argue that Europe 2020 is unlikely to succeed, unless significant amendments are made. The paper is of relevance for everyone who is interested in engaging in a critical and informed dialogue regarding European economic strategy.