At the European Council (ie the heads of state and government of the member states) in Lisbon in March 2000, the heads of state and government of the member states decided the following overall goal for the Union:
[...] to become the most competitive and dynamic knowledge-based economy in the world, capable of sustainable economic growth with more and better jobs and greater social cohesion.
It has since been mentioned that some states would have preferred to write "sustainable economic and social growth" and it is sometimes quoted that way, which is a misquote.
The Lisbon objectives on education are quite extensive, and you'll find further
background material here .
ESU's opinions on the matterESU stresses that the main objective must not be reduced to a purely economic goal, but that social cohesion must be at the heart of the process as a major objective. ESU further believes that the objective must be expanded to encompass sustainable societal and economic growth.
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For the area of education, this work is also sometimes referred to as "work on the Stockholm conclusions" or "work on the Barcelona objectives" as the more detailed documents were adopted at the Stockholm and Barcelona meetings of the European Council. The Lisbon objectives should however not be confused with the Lisbon convention within the issue of Recognition of qualifications.