Write a precis of the passage given below in about one-third of its length. Please do not give any title to it.The precis should be written in your own language. 

The Lisbon Agenda is Europe’s attempt to address the challenges posed by an evolving global economy. An ambitious choice was made in 2000 to promote a highly competitive knowledge and innovation-based economy to ensure sustainable growth, more and better jobs, social cohesion and respect for the environment. What is specific to the path adopted by Europe is not the prioritization of a knowledge-intensive economy – which is now found in many other regions of the world; it is, rather, the ambition to combine that pursuit with other features, to encourage balanced and sustainable development in accordance with European values. It is this particular combination of goals that is Europe’s contribution to bringing about a richer experience of prosperity. The Lisbon Agenda, however, involves deep transformations of Europe’s economies and societies. What is at stake is not just the shift towards a highknowledge and low-carbon economy, but the reform of a broad range of institutions, from universities, social protection and employment services, to public administration, financial systems and businesses as well. Since its inception, the Lisbon Agenda has redirected priorities in a wide range of policies, including information society, research, innovation, education, employment, social protection, environmental, single market, competition and fiscal policies. New initiatives have been launched at the European level, and several reforms are under way at the national level, albeit with great variations across Member States. More recently, the implications of the Lisbon Agenda for the financial and institutional instruments of the Union and for European Union (EU) external action have been recognized.Furthermore, the recently adopted Lisbon Treaty can provide a new framework for the implementation of the Lisbon Agenda. However, at the time of writing its ratification was still not completed. A permanent interaction between the European agenda and the research agenda underpins these policy developments. It presents the outcome of a dialogue between policy-making and academic perspectives, which was organized around four thematic workshops held between 2006 and 2008, in Brussels and in Lisbon.