PIGS Countries’ New Challenges under Europe 2020 Strategy

Abstract

The paper deals with the idea that Europe 2020 Strategy is a too ambitious project for many Member States. The analysis is focused on PIGS countries. In order to demonstrate the impossibility to achieve the Strategy’s goals, the analysis uses six representative economic indicators: GDP growth rate, employment, R&D investment, gas emissions, educational attainment and risk of poverty and social exclusion. The analysis uses regression, clusters, forecasting models and comparisons with Euro area average. The intermediate conclusion of the paper is that PIGS countries can be analysis under a cluster approach. The final conclusion is that PIGS countries are not able to achieve the Strategy’s goals in 2020, even that their socio-economic trend is positive for almost all indicators.

The analysis and the conclusions in the paper are supported by pertinent statistic tables and diagrams, coupled with dedicated IBM-SPSS software.