Following the Tripartite Social Summit, president Barroso declared: ʺWe discussed how we can adapt our economy in a way that makes it stronger in today`s competitive global environment and which also strengthens our social model which is in fact the foundation of our social market economyʺ. He recognised that the prospects for the European economy are better today than one year ago, but the recovery remains fragile. It is important to find a common approach to face the challenges in our Union.