*{Europe of My Dreams - The Views of European Business [http://www.weforum.org/site/knowledgenavigator.nsf/Content/Europe+of+My+Dreams+-+The+Views+of+European+Business?open&topic_id=300350000&theme_id=300]

            27.01.2001

            Annual Meeting 2001}

            For businesses to operate more effectively in Europe, there needs to be greater clarity of purpose as to whether one is dealing with a United States of Europe, or a Europe of United States. Everyone seems to want to have a Europe, but few seem to know what kind of Europe this will be. This was the main message among the themes that emerged from a workshop on views of European business chaired by Peter D. Sutherland, Chairman and Managing Director, Goldman Sachs International, and Chairman, BP Amoco, United Kingdom.

            Key ideas that emerged from the workshop:

            Europe needs to become more competitive with the United States, particularly with regard to employment.

            There needs to be a stronger political agenda for Europe. Deep divisions are apparent, prompting a desire for greater European harmonization in areas such as taxation. A common base tax system would enable Europe to compete more effectively with North American markets.

            Many are in favour of European enlargement to provide better competition and business through an injection of growth from Eastern Europe. Nevertheless, some feel Turkey needs to be included; not just Central and Eastern Europe.

            There is a strong need to sell Europe better, particularly among ordinary Europeans. If not, there is a danger of Europe disintegrating. Europe may wish to consider a single passport, single licence plates and other marketing tools to convince Europeans what Europe is all about.

            Europe still suffers from major problems that hamper competition: agriculture, for example. Current policies render too many industries uncompetitive.

            Social issues, such as pensions, need to be explored more closely in order to make Europe more competitive. There needs to be more discussion about social issues not unlike the economic principles elaborated at the Treaty of Rome.

            The euro zone may be problematic for some, but could be made more positive by turning it into a psychological advantage vis à vis ordinary Europeans.

            General recognition is needed for a certain degree of regulation as a means for harmonizing European standards -- but not too much, and from the bottom up, not bottom down.

            There should be greater focus on European service industries. Europe is currently lagging behind the United States.
            Better education is necessary, particularly business education at the university or college level.

            Europe can only go forward. There is no going back. But there needs to be a clearer vision with a more effective roadmap to the future.
                          *{Contributors:       Barnevik Percy
                  Breuer Rolf-Ernst
                  Burda Hubert
                  Burgmans Antony
                  Collomb Bertrand
                  Lamy Pascal
                  Liikanen Erkki
                  Moïsi Dominique
                  Monti Mario
                  Sutherland Peter D.}