"The Commission proposes a new political strategy, ‘Europe 2020’, to support employment, productivity and social cohesion in Europe. The European Union (EU) currently faces a moment of transformation, resulting mainly from globalisation, climate change and demographic ageing. In addition, the 2008 financial crisis has challenged the social and economic progress made by EU countries. The economic recovery which started in 2010 must be accompanied by a series of reforms in order to guarantee the sustainable development of the EU in the coming decade." (Quoted from site)