Description: Europe is growing again. But the recovery is uneven and under threat from the continuing debt crisis facing the eurozone. In this paper, the McKinsey Global Institute sets out a perspective on where the European economy stands today, the challenges it faces, and the very considerable strengths on which it can build. MGI lays out seven priorities for action. This is by no means an exhaustive list, but are all critical to the future success of Europe. Each requires joint action by policy makers and business leaders.