DEVELOPMENT STRATEGIES AND THE FUTURE OF THE EU

Faced with the global challenges and lagging behind its main competitors, EU has focused its development strategies on investing in research and development and it's products, which represent a key factor in achieving long term economic growth and competitiveness in contemporary business environment. The research problem in this paper stems from contemporary challenges and obstacles, which result in lagging of the European economy and greatly limit the definition and implementation of quality structural changes which are the key for future development and global competitiveness of the European economy. This research aims to analyze implementation and achievements of the EUROPA 2020, using the available indicators. The purpose of the research is to identify development perspectives of the EU and the European integration. The conducted research indicates that the EU is pursuing positive trends in all its targets. However, the aftermath of the global economic crisis has slowed the economic growth and increase in productivity. The future of the EU and the European integration will be greatly determined by its ability to further pursue the initiated development paths and its ability to meet contemporary challenges.