Europe's Opportunity Outlook

Where does Europe stand upon the world stage today, how can it remain a key player and where are the best opportunities to shine?

As we pass the first quarter of the 21st century, the dynamics of global trade have shifted significantly, geopolitical tensions loom large and markets are in flux. Policy-makers, regulators and businesses in the EU are grappling with an array of highly complex, intersecting (and often competing) challenges and drivers. Chief among them are: how to boost productivity, deliver sustainable growth and underpin competitiveness, while maintaining consumer and worker protections. How to pursue innovation, encourage investment and attract talent, and mitigate the threat of losing ground to China and the US. How to navigate risks around critical issues such as climate change and artificial intelligence (AI), while unlocking the potential opportunities that new technologies could bring. How to leverage the advantages of this large, mature market, by being agile and ambitious, while staying true to important principles around responsibility, fairness and justice. Since the corporate legal function’s role touches all parts of a business, it is a critical barometer for issues such as these. In-house legal teams are central to how companies prepare for and respond to a world of fast-paced political, economic, societal and technological change - whether through protecting new innovations, complying with emerging legislation, or ensuring commercial opportunities are realized effectively. The scale of the economic task Europe is facing should not be underestimated. In the European Commission’s “Future of European Competitiveness” report, former European Central Bank President Mario Draghi pointed to slow growth and low productivity and said the EU is facing “an existential challenge.” European economic performance is lagging its major competitors, and EU growth in 2026 is forecast to reach 1.4%, compared to 2.1% in the US and 4.2% in China.

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