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Europe Daily Bulletin No. 9053

21 October 2005
Contents Publication in full By article 19 / 36
GENERAL NEWS / (eu) eu/economics/social affairs
Commissioner Almunia calls for reform of European social models in order to preserve them

Brussels, 20/10/2005 (Agence Europe) - In a speech in Brussels to BDI (Federation of German Industries) on 19 October, European Economic and Monetary Affairs Commissioner Joaquin Almunia said 'potential growth in Europe stands at a hardly satisfactory rate of 2%. Recent estimates show that populating ageing alone might cut the rate of potential growth in half to a mere one percent by 2040.' Almunia defended the European Social Model, saying 'the European social models reflect to a large...

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