What is the Lisbon strategy?

The Lisbon strategy refers to the fact that the European Council, at an extraordinary meeting in Lisbon in March 2000, decided on a new strategic objective according to which the EU should be the most competitive and knowledge-based economy in the world in 2010. In order to achieve this objective, the EU countries must apply the open method of coordination, which is a supplement to the traditional EU legislation. The open method of coordination is based on national action plans, common objectives and EU deliberation of policy areas.

The Lisbon strategy has been subjected to a mid-term review, and results were found to be unsatisfactory. At the European Council meeting on 22-23 March 2005, it was decided how the strategy should be developed in future.

The open method of coordination
The open method of coordination works in practice by the establishment of common objectives and guidelines at European level which are then implemented at national and regional level. Implementation is up to the individual Member State. The EU undertakes continuous assessment of results from the Member States. Emphasis is placed on the application of the open method of coordination in conformity with the subsidiarity principle. The open method of coordination means that:

1. The Commission puts forward proposals for objectives and guidelines within a given policy area which are subsequently adopted by the Council.

2. Indicators are drawn up which make it easier to compare the levels of the Member States in a particular area.

3. The Member States implement guidelines in the regional and national policies.

Updated: 15/03/2007/MAKT