Europe is confronted by an intimidating triple challenge—economic stagnation, climate change and a governance crisis. What is required is a fundamental transformation of the economy to a new "green" trajectory based on rapidly diminishing emission of greenhouse gases, the authors contend. Much greater emphasis on innovation in all its forms (not just technological) is an answer. Following this path would mean turning Europe into a veritable laboratory for sustainable growth, environmentally as well as socially.
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