In the aftermath of the economic summit in Brussels, the European Union, the Swiss and German economies failed to reach an agreement on how to address the challenges facing the economies of the EU’s member states.
The summit did, however, show a sense of shared purpose in the economies, which at the same time lacked an economic agenda.
On the face of it, the summit failed to provide any clear direction for the future of the bloc.
The European Union and the European Commission have not been able to agree on a common strategy for tackling climate change and other challenges.
The bloc has also not set an agenda for the next year, while the German government has been unable to provide a clear vision of its policies in the wake of the Brexit vote.
The failure of the Swiss economic summits highlights the challenges ahead.
“The summits of 2018 and 2020 were disappointing for two reasons,” writes Jonathan Lipset, a senior economist at Capital Economics, a financial services research firm.
In 2017, the economic summit was held in the context of the end of the year for EU leaders and their first major summit in 2021.
But the summit in 2019 was a year of uncertainty for the bloc and a year that saw several crises hit the economies and economies across Europe.
According to Lipsets, the failure of those two summits also meant that the EU did not have a clear economic vision for the 2020s.
This year, the EU has set a new agenda for 2020, with a goal to boost growth by 20 per cent and improve competitiveness by 40 per cent by 2025.
Lipsets argues that this will not be enough, and that the summits that have been held in 2018 and 2019 will not offer the necessary guidance for the EU to move forward in 2020.
It also means that the economic goals that the bloc has set for 2020 are not likely to be implemented.
However, Lipsett says that the lack of clear policy direction from the EU and the EU Commission, the two institutions that lead the bloc, may also be to blame.
With a weak economy and an uncertain political future in Europe, the lack-lustre nature of the summit means that it is difficult for the eurozone and the rest of the world to get a clear picture of what is going on.
That, however , may be in part because the European Economic and Monetary Union (EEMU), which is led by the European Central Bank, has been under a lot of pressure to make bold decisions.
During the summit, the EEMU’s chief economist, Jeroen Dijsselbloem, called for a reduction in the fiscal deficit and an increase in public spending, and warned that the European financial system was being hit by too much austerity and too much borrowing.
What does this mean for the Swiss economy?
The Swiss economy has struggled since the start of the financial crisis.
According to the latest statistics, the economy shrank by 0.5 per cent in the first quarter of 2018, the biggest drop since the depths of the crisis.
Swiss GDP contracted by 0% in the second quarter, and the economy is now projected to contract by 3.5% in 2020, according to the Bank of International Settlements.
A report released by the World Bank, published in March 2018, found that unemployment in Switzerland was at a record high of 15.5%.
Switzerland has a large working age population of around 45 million, a high number that is expected to continue to grow in the coming years.
If the economic outlook continues to deteriorate, the government is also facing significant financial pressures, with the Swiss central bank now having to cut interest rates to near zero in an effort to prop up the economy.
Should the economy continue to suffer, it could also have a detrimental impact on other parts of the European economy.
The euro area is expected by many experts to grow by a further 2 per cent this year, and this could be bad news for the economies in Germany, France and Italy.
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