Lecture 3 The Lisbon Strategy

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1 Lecture 3 The Lisbon Strategy Outline The Lisbon European Council held in March 2000 recognized the need of reforming labour,, product, and financial markets in order the performance of the EU economy to be improved. To this end, the EU set for itself the objective to become the most competitive and dynamic knowledge-based economy in the world, capable of sustainable economic growth with more and better jobs and greater social cohesion by the year Overall, the Lisbon strategy was expressed in the following five dimensions: employment, innovation and research, structural economic reforms, social cohesion, and environment. 1

2 Outline (cont.) On the basis of the suggestions contained in the so-called Kok Report,, the spring European Council meeting in 2005 decided to simplify and relaunch the Lisbon strategy, refocusing on growth and employment. Indeed, the European Commission issued a Community Lisbon Programme of joint action at EU level. The new Lisbon Strategy was characterised by clearer objectives and better assignment of competences and responsibilities in accordance with the partnership principle. The T meeting of the European Council in spring 2006 confirmed its commitment to the new Lisbon Strategy, and adopted measures in four priority areas: research and development and innovation, development of a competitive economy, modernisation of the social model, energy and climate change. 2

3 Basic concepts Open Method of Coordination (OMC) Integrated Guidelines for Growth and Jobs Internal Market Strategy Questions to be answered What is the progress so far that EU has made in reaching the Lisbon goals? In what way common monetary policy can support Lisbon process? How the current financial turmoil affects the implementation of Lisbon strategy? 3

4 References Directorate-General for Economic and Financial Affairs, The economic costs of non-lisbon: A survey of the literature on the economic impact of Lisbon-type reforms, European Economy Occasional Papers Series 16, European Commission: Directorate- General for economic and Financial Affairs. Zeitlin,, J., The Open Method of Co-ordination ordination and the Governance of the Lisbon Strategy, Journal of Common Market Studies 46 (2), Begg,, I., Lisbon II, Two Years on: An Assessment of the Partnership for Growth and Jobs,, Special CEPS Report, Centre for European Policy Studies. Additional References Mabbett,, D., Schelkle,, W., Bringing Macroeconomics Back into the Political Economy of Reform: the Lisbon Agenda and the Fiscal Philosophy of EMU, Journal of Common Market Studies 45 (1), Ruta,, M., Why Lisbon Fails?, CESifo Economic Studies, forthcoming. 4

5 Table 1: Early school leavers* EU (27 countries) : : : : 17,6 17,3 17,1 16,3 15,8 15,5 15,2 15,2 Euro area 22,3 21,2 24,1 21,3 20,2 19,7 19,3 19,1 18,4 18,1 17,8 17,2 Belgium 12,9 12,7 14,5 15,2 12,5 13,6 12,4 12,8 11, ,6 12,3 Bulgaria : : : : : 20, ,4 21, ,6 Czech Republic : : : : : : 5,5 6 6,1 6,4 5,5 : Denmark 12,1 10,7 9,8 11,5 11,6 9 8,6 10,3 8,5 8,5 10,9 12,4 Germany 13,3 12,9 : 14,9 14,9 12,5 12,6 12,8 12,1 13,8 13,9 12,7 Estonia : : 12, ,2 14,1 12,6 11,8 13, ,2 14,3 Ireland 18,9 18,9 : : : : 14,7 12,3 12,9 12,3 12,5 11,5 Greece 20,7 19,9 20,7 18,6 18,2 17,3 16,7 15,5 14,9 13,3 15,9 14,7 Spain 31, ,6 29,5 29,1 29,2 29,9 31,3 31,7 30,8 29,9 31 France 15,2 14,1 14,9 14,7 13,3 13,5 13,4 13,6 13, ,3 12,7 Italy 31,7 30,1 28,4 27,2 25,3 26,4 24,3 23,5 22,3 21,9 20,8 19,3 Cyprus : : : 17,5 18,5 17,9 15,9 17,4 20,6 18, ,6 Latvia : : : : : : 19,5 18,1 15,6 11, Lithuania : : : : 16,7 13,7 14,3 11,8 9,5 9,2 10,3 8,7 *Percentage of the population aged with at most lower secondary education and not in further education or training 5

6 Table 1: Early school leavers (cont.) Luxemb. 35,3 30,7 : 19,1 16,8 18, ,3 12,7 13,3 17,4 15,1 Hungary : 17,8 15, ,8 12,9 12,2 11,8 12,6 12,3 12,4 10,9 Malta : : : : 54,2 54,4 53,2 48, ,2 41,2 37,3 Netherlands 17, ,5 16,2 15,5 15, , ,6 12,9 12 Austria 12,1 10,8 : 10,7 10,2 10,2 9,5 9,3 8,7 9 9,6 10,9 Poland : : : : : 7,9 7,6 6,3 5,7 5,5 5,6 5 Portugal 40,1 40,6 46,6 44,9 42, ,1 40,4 39,4 38,6 39,2 36,3 Romania : 19,7 19,1 21,5 22,3 21,3 23,2 23,2 23,6 20, ,2 Slovenia : : : : : 7,5 4,8 4,3 4,2 4,3 5,2 4,3 Slovakia : : : : : : 5,6 4,9 7,1 5,8 6,4 7,2 Finland 11,1 8,1 7,9 9,9 8,9 10,3 9,9 8,3 8,7 9,3 8,3 7,9 Sweden 7,5 6,8 : 6,9 7,7 10,5 10,4 9 8,6 11,7 12 8,6 UK : : : 19,8 18,4 17,7 17,8 13,7 13, ,1 17 6

7 Table 2: Employment rate of older workers* EU (27 countries) : 36,2 36,2 36,5 36,9 37,7 38, ,7 42,3 43,5 44,7 Euro area 33,1 33,2 33,3 33,7 34,2 35,2 36,5 37,9 38,7 40,6 41,8 43,3 Belgium 21,9 22,1 22,9 24,6 26,3 25,1 26,6 28, , ,4 Bulgaria : : : : 20, ,5 34,7 39,6 42,6 Czech Republic : : 37,1 37,5 36,3 37,1 40,8 42,3 42,7 44,5 45,2 46 Denmark 49,1 51, ,5 55, ,9 60,2 60,3 59,5 60,7 58,6 Germany 37,9 38,1 37,7 37,8 37,6 37,9 38,9 39,9 41,8 45,4 48,4 51,5 Estonia : : 50,2 47,5 46,3 48,5 51,6 52,3 52,4 56,1 58,5 60 Ireland 39,7 40,4 41,7 43,7 45,3 46, ,5 51,6 53,1 53,8 Greece 41, , ,2 39,2 41,3 39,4 41,6 42,3 42,4 Spain 33,2 34,1 35, ,2 39,6 40,7 41,3 43,1 44,1 44,6 France 29, ,3 28,8 29,9 31,9 34, ,6 38,7 38,1 38,3 Italy 28,6 27,9 27,7 27,6 27, ,9 30,3 30,5 31,4 32,5 33,8 Cyprus : : : : 49,4 49,1 49,4 50,4 49,9 50,6 53,6 55,9 Latvia : : 36,3 36, ,9 41,7 44,1 47,9 49,5 53,3 57,7 Lithuania : : 39,5 40,9 40,4 38,9 41,6 44,7 47,1 49,2 49,6 53,4 *it is calculated by dividing the number of persons aged 55 to 64 in employment by the total population of the same age group 7

8 Table 2: Employment rate of older workers (cont.) Luxemb. 22,9 23,9 25,1 26,4 26,7 25,6 28,1 30,3 30,4 31,7 33,2 32 Hungary 17,7 17,7 17,3 19,4 22,2 23,5 25,6 28,9 31, ,6 33,1 Malta : : : : 28,5 29,4 30,1 32,5 31,5 30,8 29,8 28,5 Netherlands 30, ,9 36,4 38,2 39,6 42,3 44,3 45,2 46,1 47,7 50,9 Austria 29,1 28,3 28,4 29,7 28,8 28,9 29,1 30,3 28,8 31,8 35,5 38,6 Poland : 33,9 32,1 31,9 28,4 27,4 26,1 26,9 26,2 27,2 28,1 29,7 Portugal 47,3 48,5 49,6 50,1 50,7 50,2 51,4 51,6 50,3 50,5 50,1 50,9 Romania : 52,1 51,5 49,6 49,5 48,2 37,3 38,1 36,9 39,4 41,7 41,4 Slovenia 19,1 21,8 23, ,7 25,5 24,5 23, ,7 32,6 33,5 Slovakia : : 22,8 22,3 21,3 22,4 22,8 24,6 26,8 30,3 33,1 35,6 Finland 35,4 35,6 36, ,6 45,7 47,8 49,6 50,9 52,7 54,5 55 Sweden 63,4 62, ,9 64,9 66, ,6 69,1 69,4 69,6 70 UK 47,7 48, ,6 50,7 52,2 53,4 55,4 56,2 56,8 57,3 57,4 8

9 Table 3: GDP growth rate* EU (27 countries) 3 3,9 2 1,2 1,3 2,5 2 3,1 2,9 1,4 Euro area 2,9 3,9 1,9 0,9 0,8 2,1 1,7 2,9 2,6 1,2 Belgium 3,4 3,7 0,8 1, ,8 3 2,8 1,4 Bulgaria 2,3 5,4 4,1 4,5 5 6,6 6,2 6,3 6,2 6,5 Czech Republic 1,3 3,6 2,5 1,9 3,6 4,5 6,3 6,8 6 4,4 Denmark 2,6 3,5 0,7 0,5 0,4 2,3 2,4 3,3 1,6 0,7 Germany 2 3,2 1,2 0-0,2 1,2 0,8 3 2,5 1,7 Estonia -0,1 9,6 7,7 7,8 7,1 7,5 9,2 10,4 6,3-1,3 Ireland 10,7 9,2 5,8 6,4 4,5 4,7 6,4 5,7 6-1,6 Greece 3,4 4,5 4,2 3,4 5,6 4,9 2,9 4,5 4 3,1 Spain 4,7 5 3,6 2,7 3,1 3,3 3,6 3,9 3,7 1,3 France 3,3 3,9 1,9 1 1,1 2,5 1,9 2,2 2,2 0,9 Italy 1,5 3,7 1,8 0,5 0 1,5 0,6 1,8 1,5 0 Cyprus 4, ,1 1,9 4,2 3,9 4,1 4,4 3,7 Latvia 3,3 6,9 8 6,5 7,2 8,7 10,6 11,9 10,2-0,8 Lithuania -1,5 4,2 6,7 6,9 10,2 7,4 7,8 7,8 8,9 3,8 *percentage change on previous year 9

10 Table 3: GDP growth rate (cont.) Luxembourg 8,4 8,4 2,5 4,1 1,5 4,5 5,2 6,4 5,2 2,5 Hungary 4,2 5,2 4,1 4,1 4,2 4,8 4 4,1 1,1 1,7 Malta : : -1,6 2,6-0,3 1,2 3,5 3,2 3,9 2,4 Netherlands 4,7 3,9 1,9 0,1 0,3 2,2 2 3,4 3,5 2,3 Austria 3,3 3,7 0,5 1,6 0,8 2,5 2,9 3,4 3,1 1,9 Poland 4,5 4,3 1,2 1,4 3,9 5,3 3,6 6,2 6,6 5,4 Portugal 3,8 3,9 2 0,8-0,8 1,5 0,9 1,4 2 0,5 Romania -1,2 2,1 5,7 5,1 5,2 8,5 4,2 7,9 6,2 8,5 Slovenia 5,4 4,4 2,8 4 2,8 4,3 4,3 5,9 6,8 4,4 Slovakia 0 1,4 3,4 4,8 4,7 5,2 6,5 8,5 10,4 7 Finland 3,9 5 2,6 1,6 1,8 3,7 2,8 4,9 4,5 2,4 Sweden 4,6 4,4 1,1 2,4 1,9 4,1 3,3 4,2 2,5 1 UK 3,5 3,9 2,5 2,1 2,8 2,8 2,1 2,8 3 0,9 10

11 Table 4: Greenhouse gas emissions* target EU (27 countries) 95,5 93,6 92,7 90,8 90,9 91,9 91, ,2 92,5 92,3 : Belgium ,1 103,8 99,4 99,9 99,6 98,4 100,4 100,3 97, ,5 Bulgaria 65 62, , ,7 53,7 53,2 53,2 53,8 92 Czech Republic 82,2 78,6 74,5 72,3 75,7 76,7 74,5 74,9 75, ,3 92 Denmark 129,1 115,1 109,3 104, , ,4 97,9 91,7 101,7 79 Germany 90,4 87,4 85,4 82,8 82,7 84,1 82,5 83,6 83,4 81,5 81,5 79 Estonia 50,8 49, ,8 42,8 42, , ,3 44,3 92 Ireland 110,4 113,2 118,4 121,1 124,1 127,2 123,8 123,4 123,5 126,5 125,5 113 Greece 106,5 111,1 115,8 115,9 119,9 121, , ,1 124,4 125 Spain 107,4 114,7 118,2 127,9 132, ,9 141, ,1 149,5 115 France 101,3 99,9 102,2 99,4 98,5 98,9 97,3 97,9 97,9 98, Italy 101,3 102,5 104,7 105,8 106, ,2 111,1 111,8 111,8 109,9 93,5 Cyprus 125,1 126,5 135,1 137,7 144,7 143, ,5 163,5 163,4 166 : Latvia 48,5 46,2 44,2 41,2 38,7 41,1 41,2 41,9 41, ,9 92 Lithuania 47, ,8 42,1 39,2 41,2 41,9 42, , *under the Kyoto Protocol, the EU has agreed to an 8% reduction in its greenhouse gas emissions by , compared to the Kyoto base year 11

12 Table 4: Greenhouse gas emissions (cont.) target Luxemb. 79,2 74,4 68,8 73,5 77,3 79,6 85,9 88,6 101,8 100,9 101,2 72 Hungary 70,6 68,9 68,7 68,8 67,2 68,8 66,9 69,8 68,8 69,5 68,1 94 Malta 119,7 123,7 123,3 128,5 122,7 129,3 130,4 139,6 140,7 145,5 145 : Netherlands 108,9 105,6 106,4 100,6 100,3 101,1 100,9 101,5 102,2 99,4 97,4 94 Austria 105,9 105,3 104,5 102,5 102,6 107,9 110, ,2 87 Poland 79,6 78,6 73,4 71,1 69,1 68,4 66,1 68,3 68,2 68,6 71,1 94 Portugal 112,8 118,6 126, ,9 138,7 146, ,3 145,4 138,3 127 Romania 68, ,5 48,4 49,9 51,7 53,9 56,4 57,1 54,6 56,3 92 Slovenia 95 96,6 95,4 91, ,4 98,4 97,1 98,7 100,6 101,2 92 Slovakia 71,1 69,6 70,2 68,9 67,3 69,7 68,2 69,7 69,4 68,5 67,9 92 Finland 108,8 106,8 101, ,3 105,6 108,5 119,5 113,8 97,2 113,1 100 Sweden 107,2 100,8 101,3 96,7 94,6 95,6 96, ,6 92,7 91,1 104 UK 93,7 90, ,3 86,7 84,1 84,9 84,7 84, ,5 12

13 Table 5: Unemployment rate* EU (27 countries) : : : 8,7 8,5 8, ,9 8,2 7,1 7 Euro area 10,6 10 9,1 8,2 7,8 8,3 8,7 8,8 8,9 8,3 7,4 7,5 Belgium 9,2 9,3 8,5 6,9 6,6 7,5 8,2 8,4 8,5 8,3 7,5 7,1 Bulgaria : : : 16,4 19,5 18,2 13,7 12,1 10,1 9 6,9 5,6 Czech Republic : 6,4 8,6 8,7 8 7,3 7,8 8,3 7,9 7,2 5,3 4,4 Denmark 5,2 4,9 5,2 4,3 4,5 4,6 5,4 5,5 4,8 3,9 3,8 3,5 Germany 9,4 9,1 8,2 7,5 7,6 8,4 9,3 9,8 10,6 9,9 8,4 7,3 Estonia 9,6 9,2 11,3 12,8 12,4 10,3 10 9,7 7,9 5,9 4,7 6 Ireland 9,9 7,5 5,7 4,3 4 4,5 4,7 4,5 4,4 4,5 4,6 6,3 Greece : 10, ,2 10,7 10,3 9,7 10,5 9,9 8,9 8,3 : Spain 16, ,5 11,1 10,3 11,1 11,1 10,6 9,2 8,5 8,3 11,3 France 11, ,4 9 8,3 8,6 9 9,3 9,2 9,2 8,3 7,7 Italy 11,3 11, ,1 9,1 8,6 8,5 8,1 7,7 6,8 6,1 : Cyprus : : : 4,9 3,8 3,6 4,1 4,7 5,3 4,6 4 3,8 Latvia : 14, ,7 12,9 12,2 10,5 10,4 8,9 6,8 6 7,3 Lithuania : 13,2 13,7 16,4 16,5 13,5 12,5 11,4 8,3 5,6 4,3 5,7 *unemployment rates represent unemployed persons as a percentage of the labour force 13

14 Table 5: Unemployment rate (cont.) Luxemb. 2,7 2,7 2,4 2,2 1,9 2,6 3,8 5 4,6 4,6 4,1 4,4 Hungary 9 8,4 6,9 6,4 5,7 5,8 5,9 6,1 7,2 7,5 7,4 7,9 Malta : : : 6,7 7,6 7,5 7,6 7,4 7,2 7,1 6,4 5,8 Netherlands 4,9 3,8 3,2 2,8 2,2 2,8 3,7 4,6 4,7 3,9 3,2 2,8 Austria 4,4 4,5 3,9 3,6 3,6 4,2 4,3 4,9 5,2 4,8 4,4 3,8 Poland 10,9 10,2 13,4 16,1 18, , ,8 13,9 9,6 7,1 Portugal 6,7 5 4,5 4 4,1 5,1 6,4 6,7 7,7 7,8 8,1 7,7 Romania : : 7,1 7,3 6,8 8,6 7 8,1 7,2 7,3 6,4 : Slovenia 6,9 7,4 7,3 6,7 6,2 6,3 6,7 6,3 6,5 6 4,9 4,5 Slovakia : 12,6 16,4 18,8 19,3 18,7 17,6 18,2 16,3 13,4 11,1 9,6 Finland 12,7 11,4 10,2 9,8 9,1 9,1 9 8,8 8,4 7,7 6,9 6,4 Sweden 9,9 8,2 6,7 5,6 4,9 4,9 5,6 6,3 7,4 7 6,1 6,2 UK 6,8 6,1 5,9 5,4 5 5,1 5 4,7 4,8 5,4 5,3 : 14

15 Table 6: Long-term unemployment rate* EU (27 countries) : : : : 4 3,9 4 4,1 4,2 : 3,7 3 Euro area 5,4 5,4 5 4,4 3,9 3,6 3,6 3,9 4 3,9 3,8 3,2 Belgium 5,7 5,4 5,6 4,8 3,7 3,2 3,7 3,7 4,1 4,4 4,2 3,8 Bulgaria : : : : 9,4 12, , ,1 Czech Republic : : 2 3,2 4,2 4,2 3,7 3,8 4,2 4,2 3,9 2,8 Denmark 1,8 1,5 1,3 1,1 0,9 0,9 0,9 1,1 1,2 1,1 0,8 0,6 Germany 4,2 4,7 4,7 4,2 3,8 3,8 4 4,6 5,5 5,7 5,5 4,7 Estonia : : 4,2 5 5,9 6 5,4 4,6 5 4,2 2,9 2,3 Ireland 7 5,6 3,9 2,4 1,6 1,3 1,4 1,6 1,6 1,5 1,4 1,4 Greece 5,2 5,3 5,8 6,5 6,2 5,5 5,3 5,3 5,6 5,1 4,8 4,1 Spain 9,4 8,7 7,5 5,7 4,6 3,7 3,7 3,7 3,4 2,2 1,8 1,7 France 4,5 4,6 4,5 4,1 3,5 2,9 3 3,5 3,8 3,8 3,9 3,3 Italy 7,3 7,3 6,8 6,7 6,3 5,7 5,1 4,9 4 3,9 3,4 2,9 Cyprus : : : : 1,2 0,8 0,8 1 1,2 1,2 0,9 0,7 Latvia : : 7,9 7,6 7,9 7,2 5,5 4,4 4,6 4,1 2,5 1,6 Lithuania : : 7,5 5,3 8 9,3 7,2 6 5,8 4,3 2,5 1,4 *long-term unemployed (12 months and more) persons are those aged at least 15 years not living in collective households who are without work within the next two weeks, are available to start work within the next two weeks and who are seeking work 15

16 Table 6: Long-term unemployment rate (cont.) Luxemb. 0,8 0,9 0,9 0,8 0,5 0,5 0, ,2 1,4 1,2 Hungary 5,2 4,5 4,2 3,3 3,1 2,6 2,5 2,4 2,7 3,2 3,4 3,4 Malta : : : : 4,5 3,7 3,2 3,2 3,4 3,3 2,8 2,7 Netherlands 3 2,3 1,5 1,2 0,8 0,6 0,7 1 1,6 1,9 1,7 1,3 Austria 1,2 1,3 1,3 1,2 1 0,9 1,1 1,1 1,4 1,3 1,3 1,2 Poland : 5 4,7 5,8 7,4 9,2 10, ,3 10,3 7,8 4,9 Portugal 3,3 3,2 2,2 1,8 1,7 1,5 1,8 2,2 3 3,7 3,9 3,8 Romania : : : 3,1 3,8 3,4 4,6 4,3 4,8 4 4,2 3,2 Slovenia 3,4 3,5 3,3 3,3 4,1 3,7 3,5 3,5 3,2 3,1 2,9 2,2 Slovakia : : 6,5 7,8 10,3 11,3 12,2 11,4 11,8 11,7 10,2 8,3 Finland : 4,9 4,1 3 2,8 2,5 2,3 2,3 2,1 2,2 1,9 1,6 Sweden 2,7 3,1 2,6 1,9 1, ,2 : 1,1 0,8 UK 3,1 2,5 1,9 1,7 1,4 1,3 1,1 1, ,2 1,3 16

17 Table 7: Total R&D expenditure* EU (27 countries) 1,78 1,79 1,84 1,85 1,86 1,87 1,86 1,82 1,82 1,84 1,83 Belgium 1,83 1,86 1,94 1,97 2,08 1,94 1,88 1,87 1,84 1,88 1,87 Bulgaria 0,51 0,57 0,57 0,52 0,47 0,49 0,5 0,5 0,49 0,48 0,48 Czech Republic 1,08 1,15 1,14 1,21 1,2 1,2 1,25 1,25 1,41 1,55 1,54 Denmark 1,92 2,04 2,18 2,24 2,39 2,51 2,58 2,48 2,46 2,48 2,55 Germany 2,24 2,27 2,4 2,45 2,46 2,49 2,52 2,49 2,48 2,54 2,53 Estonia : 0,57 0,69 0,61 0,71 0,72 0,77 0,86 0,94 1,15 1,14 Ireland 1,27 1,24 1,18 1,12 1,1 1,1 1,17 1,24 1,25 1,3 1,31 Greece 0,45 : 0,6 : 0,58 : 0,57 0,55 0,58 0,57 0,57 Spain 0,8 0,87 0,86 0,91 0,91 0,99 1,05 1,06 1,12 1,2 1,27 France 2,19 2,14 2,16 2,15 2,2 2,23 2,17 2,15 2,1 2,1 2,08 Italy 1,03 1,05 1,02 1,05 1,09 1,13 1,11 1,1 1,09 1,14 : Cyprus : 0,22 0,23 0,24 0,25 0,3 0,35 0,37 0,4 0,43 0,45 Latvia 0,38 0,4 0,36 0,44 0,41 0,42 0,38 0,42 0,56 0,7 0,63 Lithuania 0,54 0,55 0,5 0,59 0,67 0,66 0,67 0,75 0,75 0,79 0,82 *The indicator is defined as the percentage share of GERD (Gross domestic expenditure on R&D) in GDP 17

18 Table 7: Total R&D expenditure (cont.) Luxembourg : : : 1,65 : : 1,65 1,63 1,56 1,66 1,63 Hungary 0,72 0,68 0,69 0,78 0,92 1 0,93 0,88 0,94 1 0,97 Malta : : : : : 0,26 0,26 0,53 0,6 0,64 0,6 Netherlands 1,99 1,9 1,96 1,82 1,8 1,72 1,76 1,78 1,72 1,71 1,7 Austria 1,7 1,78 1,9 1,94 2,07 2,14 2,26 2,26 2,44 2,46 2,56 Poland 0,65 0,67 0,69 0,64 0,62 0,56 0,54 0,56 0,57 0,56 : Portugal 0,59 0,65 0,71 0,76 0,8 0,76 0,74 0,77 0,81 1 1,18 Romania : 0,49 0,4 0,37 0,39 0,38 0,39 0,39 0,41 0,45 0,53 Slovenia 1,28 1,34 1,37 1,39 1,5 1,47 1,27 1,4 1,44 1,56 1,53 Slovakia 1,08 0,78 0,66 0,65 0,63 0,57 0,57 0,51 0,51 0,49 0,46 Finland 2,7 2,86 3,16 3,34 3,3 3,36 3,43 3,45 3,48 3,45 3,47 Sweden 3,48 : 3,61 : 4,17 : 3,85 3,62 3,8 3,74 3,64 UK 1,77 1,76 1,82 1,81 1,79 1,79 1,75 1,69 1,73 1,76 : 18

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