February’s Core Group discussed the EU2020 strategy - a strategy that will replace the Lisbon Strategy adopted in 2000 whose aim was that of making Europe “the most competitive and the most dynamic knowledge-based economy in the world” by 2010. The EU2020 Strategy was discussed by EU Heads of State and Government during the Informal meeting of the European Council held on February 11 and will be on the agenda of the meeting of the European Council to be held on March 25 and 26.

Mr Martin Spiteri, Director for Policy Development within the Ministry of Finance, Economy and Investment (MFEI) explained the main priorities of the strategy, namely:

• economic growth based on innovation, and the enhancement of education, research and the digital economy;
• the empowerment of civil society through new skills, innovation and entrepreneurship;
• a competitive economy that will not harm the environment.

Core Group members spoke favourably about the Strategy and raised a number of issues in this respect, such as the need for a regional strategy and the importance of cooperation between Malta and the Member States in the Mediterranean; the possibility of introducing regional aid; the creation of jobs on a national level; and the need to boost the competitiveness of small and medium enterprises.