Expectations of two tough years ahead, and retraining workers so that the continent’s skills pool matches its needs were among the themes developed at the European Business Summit. To compete its way out of today’s trough, Europe must invest in teaching people. The opening theme was: ‘Dare and Care’. One speaker said Europe is ‘the best’, but has to innovate to stay ahead.
The head of the European Commission, José Manuel Barroso, reiterated there should be no more unbridled financial activity: “Until recently, there was some cleavage in Europe about what is called the ‘continental model’ and the ‘Anglo-Saxon model’. But now I think that, broadly speaking, everybody agrees that we need to do more in terms of regulation and supervision to avoid this kind of crisis happening again.” Guest of honour Abdullah Gul, Turkey’s president, said with Turkey in the EU, the bloc could devise much better solutions to its problems. He said crisis experience made his country’s banking system much stronger.