Memo: Lisbon Strategy for Growth and Jobs: frequently asked questions – background

The European Union's Lisbon Strategy to modernize Europe was first agreed in 2000 and relaunched in 2005, with a clearer focus on growth and jobs. The Strategy is based on a consensus among Member States and organised around 3 year cycles. It is now making a strong contribution to Europe's current economic upturn. If the EU makes the right economic reforms now, it can secure a prosperous, fair and environmentally sustainable future for Europe. It can ensure that our economies are well positioned to take advantage of the opportunities offered by globalisation. It can put Europe in a strong position to cope with demographic changes that will mean more older people and fewer young people of working age in our societies.