23rd January 2010
The worst economic and financial crisis in decades has hit Europe hard with a sharp economic
contraction. The unemployment rate is set to rise to double digit figures in 2010, a level not
seen for a decade.
Collective action to save the financial system and to boost demand and confidence through
public intervention has helped to prevent an economic meltdown. However, the crisis has
weakened our resilience. The EU now needs to make a stronger effort to work together to