The growth model for europe has been a powerful engine for economic convergence over the last five decades the golden growth report evaluates the six principals of europes growth model trade finance enterprise innovation labor and government adjustments are now needed to restart the . The report documents the impressive achievements of the european growth model over the last 50 years accounting for the stresses it is experiencing and assessing the longer term challenges that europe will face the report then evaluates the six principal components of the model trade finance enterprise innovation labor and government it finds that the european growth model has been a . The prospect of enlarging the european union eu to central and eastern european countries with income levels far below those of present members questions how and when the candidates aspiration to converge towards eu standards of living could possibly by fulfilled to address these questions this paper seeks to assess of the convergence experience of the four less developed eu members i . These desires and developments already make the european growth model distinct keeping to the discipline of the golden rule would make it distinguished this report shows how europeans have organized the six principal economic activities trade finance enterprise innovation labor and government in unique ways but policies in parts of europe do not recognize the imperatives of demographic . Speakers indermit gill chief economist of the europe and central asia region of the world bank andmartin raiser world banks country director for turkeychair dr ferdinand fichtner head of the department forecasting and economic policy diw berlinthe report documents the impressive achievements of the european growth model over the last 50 years