'Entrepreneurship' needed to solve economic ills

Europe's entrepreneurial spirit must be fostered to move its economy and business developments forward, said Jacques Santer, president of the European Commission, during his keynote speech at the April 19 opening ceremony of the 51st Hannover Industrial Fair. Mr. Santer added that entrepreneurship must be a priority if high unemployment and other economic ills ar...

05/01/1998


Europe's entrepreneurial spirit must be fostered to move its economy and business developments forward, said Jacques Santer, president of the European Commission, during his keynote speech at the April 19 opening ceremony of the 51st Hannover Industrial Fair. Mr. Santer added that entrepreneurship must be a priority if high unemployment and other economic ills are to be solved permanently. He cited the U.S. model of raising venture capital for small- and medium-sized companies as an important model. Overall, he considers directions in Europe as positive, despite critical ongoing changes—such as completion of the single market, prospective entry of new states into the European Union, and introduction of the Euro monetary system on Jan. 1, 1999. "An economy, particularly in an age of globalization, can only be a long-term success if it succeeds in continually injecting fresh blood into its circulatory system in the form of young enterprises," he said.





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