The right economic model for the Old World is the subject of great debate at Davos. But euro-zone business leaders aren't so sure that such advice is right. What we need isn't more liberal labor laws but lower taxes to boost our competitiveness. Deregulation and labor reform is of secondary importance. The best way to strengthen Europe's economy is to improve the efficiency of the public sector.
European industry is now flexible and productive.
You can see that in the way we're creating jobs. Other corporate executives at Davos agree. But we have made immense progress over the past five years, and now we're seeing the results. More jobs are now being created in Europe than at any time in the past 20 years. Still, the red tape that binds European companies so tightly needs cutting, execs complain.