European leaders pursue E-commerce growth

European leaders pursue E-commerce growth
ASSOCIATED PRESS

LISBON, MARCH 25: European Union leaders wrapped up a two-day summit on Saturday with a pledge to make their economies more internet-driven to secure job creation and an annual economic growth rate of three per cent in the years ahead.

In the draft of a statement to be issued later, the 15 leaders fixed a "new strategic goal for the next decade: to become the most competitive and dynamic, knowledge-driven economy capable of sustainable economic growth with more and better jobs."

It said this was possible and asserted "an average economic growth rate of 3 percent should be a realistic prospect for the coming years." Growth in the EU is currently almost 2 percent. The draft statement listed no target for Europe's future unemployment rate. Today, it averages about 10 percent, more than double the US rate.

On a negative note, the leaders made it clear to Austria they will maintain their policy of isolating it. Over dinner on Friday, Austrian chancellor Wolfgang Schuessel pleaded for an end to bilateral sanctions imposed by the other EU states to protest the fact he formed a coalition government with the far-right Freedom Party on February 4.

On the Balkans, the draft statement called for a "more coherent" strategy for providing humanitarian and other assistance. Their appeal followed a report by Javier Solana, the EU's top foreign and security policy coordinator, that said international aid for the entire Balkans was hampered by excessive bureaucracy and duplication.