“The Future of Europe: A Modern Economy or an Open Museum of a Glorious History?” – Public Lecture by Sir Pissarides 2025

On February 26, 2025, the School of Economics and Management had the honor of hosting Sir Christopher Pissarides, Nobel Laureate in Economics (2010), for its Annual Public Lecture. The event took place in a packed Ceremony Hall at the University of Cyprus, with the support of Alpha Bank Cyprus.

At the beginning of the event, Professor Sofronis Clerides, Dean of the School, warmly welcomed the audience and provided a brief retrospective on Sir Pissarides’ previous lectures at the University of Cyprus over the past nine years. He highlighted the challenges Europe faces due to the dominance of the United States, China, and other emerging economies, as well as the threats posed by climate change and demographic shifts.

Sir Christopher’s lecture, titled “The Future of Europe: A Modern Economy or an Open Museum of a Glorious History?”, analyzed the trajectory of the European economy and its ability to remain competitive in an increasingly digital world. He emphasized that a modern economy must combine economic growth with citizen well-being, relying on innovation, strong institutional frameworks, and efficient labor markets. He pointed out Europe’s lagging productivity compared to the United States, attributing it to the dominance of American tech giants and Europe’s fragmented regulatory framework. While Europe excels in social welfare and economic integration, its competitiveness depends on adopting digital technologies, fostering entrepreneurship, and deepening economic and political cooperation.

The lecture underscored the urgent need for structural reforms, greater investments in cutting-edge technologies, and a more cohesive European strategy to ensure sustainable economic growth. Without these changes, Sir Pissarides warned, Europe risks entering a period of stagnation and losing its position on the global stage.

The event, which was an outstanding success, was attended by over 350 participants. Sir Pissarides captivated the audience until the very end, sparking a productive discussion among students, academics, and policymakers.

The main sponsor of the event was Alpha Bank Cyprus, and the media sponsor was “Politis” newspaper, both of whom the School warmly thanks for their tangible support in successfully organizing the event.

Here you can find the video.