Globalisation and the reform of European social models
Globalisation implies changes that create both threats and opportunities. The challenge for Europe is to become flexible to avail of the opportunities this brings and surmount the threats. This requires labour market and social policies to be reformed. When thinking about such reforms, the notion of a single ‘European social model’ is largely irrelevant. There are four different European social models, each of which perform differently in terms of efficiency and equity. The Nordic and the Anglo-Saxon models are both efficient, but only the former manages to combine equity and efficiency. The Continental and Mediterranean models are inefficient and unsustainable; they must therefore be reformed.
This Policy Brief is a version of a paper prepared for the ECOFIN Informal Meeting in Manchester, 9 September 2005.
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