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Flexicurity -a European Approach to Labour Market PolicyAlthough linguistically somewhat strange, "fl exicurity", the combination of labour market fl exibility and security for employees, has become a much praised cornerstone of European labour market policies. Obviously, in an environment with rapid technical progress and frequently changing market conditions, employers need to manage their labour force fl exibly. In order to achieve this fl exibility without creating an unbearable situation for employees, security is the second pillar of the concept. Security refers, however, to "employability" rather than safety from dismissal. As such, the concept looks like an innovative European way of consolidating economic and social interests, although some argue that much fl exibility is gained while the security aspect is being neglected. The concept has been successfully adopted in some European countries, notably Denmark and the Netherlands. However, each country has to fi nd its own concept of "fl exicurity" using a distinct combination of instruments that fi t the national institutional, social and civic context. O ne of the main challenges the European Union is currently facing is how, in the era of globalisation and ageing, to live up to European citizens' expectation of providing a distinct European Social Model. Can a true alternative be offered to sheer fl exibilisation, deregulation and the degradation of social standards and social cohesion? Will a strong social Europe also be a strong economic Europe? Can Europe indeed follow its own path compared to the rest of the world? 1 At the European level, the desire is expressed to maintain a solid balance between social and economic goals. The vexed question is how this model should be further developed in a concrete manner. As of 2006 this challenging question has specifi cally been dealt with under the heading of "fl exicurity". The objective of fl exicurity strategies is to combine employment an...