Beyond integration. Social preferences with robust growth

One of a series of articles in this issue of Finance and Development under the theme 'Europe's conundrum', which focus on the economic challenges facing the European Union following the accession of 10 new members on May 1, 2004.

In this article, the Director of the IMF's European Department, in a historical overview of the European Union (EU), discusses the reasons for the EU's waning growth and the challenges that face the new 25-country group in particular, how to stimulate growth while preserving generous social insurance systems. He concludes that what is needed is a forward-looking approach to reform that reconciles solidarity and discipline through policies that generate long-term growth.

• Primary Source

http://www.imf.org/external/pubs/ft/fandd/2004/06/index.htm http://www.imf.org/external/pubs/ft/fandd/2004/06/index.htm

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