Humbled EC seeks to improve economic performance

The European Commission admitted today its plan to become the world’s most dynamic economy by 2010 had been derailed and set out on a pro-business course to create more jobs.

EC President Jose Manuel Barroso said the reasons for abandoning the plan set out five years ago in Lisbon could be found both in the past, with its listless growth, and the future, whose promise primarily lies in Asia.