1. Europe – the lost continent? Howard Davies Director, LSE KR Narayanan Memorial Lecture Indian Council of World Affairs 8 April 2010

2. The European Union: 500 million people – 27 countries Source: Eurostat. EU population, million people, 1986 – 2010

3. The Euro: A single currency for Europeans Source: http://europa.eu/ EU countries using the euro EU countries not using the euro

4. How rich is the EU compared to the US, China and India? Source: IMF World Economic Outlook, October 2009. GDP per capita, current prices (US dollars), 2008

5. The EU economy is close in size to that of the US Source: IMF World Economic Outlook, October 2009. GDP, current prices (Billion US dollars), 2008 EU (18,387 Billion USD)US (14,441 Billion USD)

6. Europe’s post-crisis growth rates will be sluggish Source: IMF World Economic Outlook, October 2009. Gross domestic product forecast (% change), constant prices, 2007-2014

7. The World’s Economic Centre of Gravity is moving eastwards Source: Grether JM, Mathys N (2008): Is the World’s Economic Center of Gravity Already in Asia? Projection of the World’s Economic and Geographic Centre of Gravity

8. EU is losing its share in the global economic governance Source: www.g20.org. G8 G20

11. 10-year government-bond spreads over German bunds, percentage points, 2008 Jan – 2010 Jan Costs of borrowing in the Eurozone have been growing apart Source: The Economist.

12. Unit labour costs in Greece and Spain have been growing more rapidly than in Germany or France Quarterly unit labour cost*, index (2005 = 100.0), 2006 Q4 – 2009 Q3 * Unit labour costs measure the average cost of labour per unit of output and are calculated as the ratio of total labour costs to real output. Source: OECD Data.

13. “If change is - inevitable - predictable - beneficial - doesn't logic demand that you be a part of it?” (Captain James T. Kirk, Star Trek)

16. Europe – the lost continent? Howard Davies Director, LSE KR Narayanan Memorial Lecture Indian Council of World Affairs 8 April 2010