With just a month to go before the European Union's historic big bang expansion, leaders from the 25-nation bloc's current and future states have agreed to set aside their power-sharing battles and clinch a new constitutional deal by mid-June.
The charter is desperately needed to streamline and simplify EU decision-making over the coming years. But it won't do much to improve the bloc's flagging economic fortunes.
A European Commission report on eurozone economies issued this week warned that the 12-nation currency bloc will enjoy only a "moderate" recovery of around 1.8 per cent this year and perhaps three per cent next year2005, lagging far behind the much more buoyant economic performance of the US, Japan and the rest of Asia.
The bad news was further compounded by a rare acknowledgement from the Commission that euro-area exporters have suffered 'considerable loss in price competitiveness' due to a strong euro - although earning losses could now be offset by a rebound in global trade.
The message from the Commission is simple: EU governments must step up economic reform, using the opportunities offered by the current world economic upturn to catch up with their American and Asian rivals.
But the EU's problem is not lack of advice or the absence of vision - it's failing to keep promises. EU leaders meeting in Lisbon four years ago, agreed on a long list of reforms and structural adjustments which they grandly claimed would make Europe the most competitive region in the world by 2010.
The plan - dubbed the Lisbon agenda - called for the EU to overtake the US and Japan. More recently, EU policy-makers have added China and India to the list of potential rivals with which the bloc must compete over the next years.
But four years later, EU results in implementing the Lisbon pledges are meagre. "It's shocking to reveal that 40 per cent of the Lisbon goals have not been implemented by member states," European Parliament President Pat Cox complained recently.
Carrying out reforms agreed on paper has proven far more elusive than leaders envisaged, with member states often refusing to harm national sacred cows. A recent report by the European Commission criticized governments for running up excessive budget deficits, failing to create new jobs and making inadequate use of productivity-boosting information technology.
"Investment - both public and private - in human capital is still inadequate," the Commission warned, adding that governments and companies were also not investing enough in research and development and not working hard enough to breakdown national frontiers, especially in the high-growth services sector.
The Commission paper singled out Germany - the bloc's biggest economy - as being a particular drag on the entire EU for lagging in a series of key areas. Berlin has repeatedly overshot the eurozone budget deficit limit of three per cent of Gross Domestic Product (GDP), lacks a far-reaching state pension reform plan, and has rigid labour market regulations and high unemployment, said the report.
German Chancellor Gerhard Schroeder has in fact resigned from his post as SPD party leader to push through unpopular economic reforms. In France, voters rebuffed the centre-right government of Prime Minister Jean-Pierre Raffarin this week at least partly because of anger at his confused reform programme.
With the EU due to take in 10 new member states on May 1, mainly from the former communist bloc, economic divergences in Europe are about to increase radically. But contrary to popular belief that expansion will make a bad EU situation even worse, Commission experts say the entry of new members- currently registering growth rates of about four per cent-will actually stimulate the European economy.
But the turnaround will not be immediate. Eurozone GDP is expected to rise by 0.3 and 0.7 per cent during the first two quarters of 2004, only "accelerating to potential" during the second half of the year.
European monetary affairs chief Pedro Solbes-set to become Spain's finance minister-has admitted to harbouring "some anxiety" over the state of eurozone finances. Policy-makers across Europe, he says, should start turning their reform promises into deeds. So far, however, Europeans would much rather fret rather than act over the economy.
Seep celebrates its 40 years
By HA
KARACHI: Seep, a known literary journal, completed its 40 years of publication last week, so its editor Nasim Durrani and Seep Adbi Markez decided to celebrate the event on Tuesday at Nipa auditorium.
Poet and columnist Jamiluddin Aali who had admiration for Nasim and his journal since long presided over the assembly of writers and readers who had filled the auditorium by their presence.
Aali spoke about the acute problems of literary journals depending less on the growing number of readers and more on financial support of the advertisements. He recalled Nairang-i-Khayal of his school years, than Saqi, Adbi Dunya, and in later years Adab-i-Latif, Naqoosh, and many others who kept the literary activities alive and enriched literature, beside grooming the new talent.
Seep did the some and Aali wished him all the best. Earlier, Prof Saher Ansari presented a review of Seep, which produced 72 issues during its illustrious life. Ansari recalled many notable articles of Prof Hasan Askari and Salim Ahmed which ignited discussion on national level and suggested that at last three separate volumes on fiction, literary criticism and different articles be published to the benefit of readers.
Khushbakht Shujaat read out a survey of Seep publications which provided a forum for young and budding writers when during the early years of the sixties, literary activities were at its peck.
A peculiar quality most admired by the readers of Seep had been its wide range of literary coverage giving equal space to young writers along with such seniors as Krishen Chand, Ghulam Abbas, Akhtarul Iman and other notables.
Nasim Durrani said he started writing shortstories since 1954 and now could easily publish those stories in three volumes, but he preferred concentrating on Seep. He described how his journal and its different contents attracted the attention of students at various universities, and researches were undertaken by research scholars.
Poet Ahmed Umer Sharif recited a 'geet' in praise of Seep and was much liked by the audience. Ahmed Mobarak did the compering.