Nearly 2,000 guests from 60 countries have come to the southern Polish town of Krynica to attend the 20th Economic Forum, dubbed the “Davos of the East”, which opened yesterday under the motto “Europe After Lisbon: Strategies for the Future.”

Speaking at the Forum’s opening session the head of the European Commission Jose Manuel Barroso admitted that the Lisbon strategy for the years 2000 – 2010 was not very successful. “ We need not only a monetary but also an economic union and better coordination of activities. The crisis has shown we need to act and think globally.

This year is the first with the Lisbon Treaty in force. The treaty aims to reinforce local and regional governments’ role in the process of shaping of EU political strategies, and to bring the EU closer to a multi-level governance model.

Under the treaty, the EU is expected to focus on the development of new technology, research and competitiveness. The treaty emphasizes the principle of subsidiarity and introduces the principle of energy solidarity.

During the four-day event some 200 prominent politicians, businessmen, scientists and journalists will discuss all these topics during more than 100 debates.

The Economic Forum in Krynica, organized annually by the Eastern Studies Institute since 1991, is a major event in Central and Eastern Europe. It aims to create a welcoming climate for the development of political and economic ties between the European Union and its neighbors.