An additional 15 million extra employment opportunities could be created by European nations, a study predicts.

Research by the Government of the Future Centre suggests gross domestic product across the continent could also expand by eight per cent over the ten year period if certain measures are put in place, with millions of new roles generated in Germany and the UK.

The institution insists that public policy actions such as catalyzing innovation, driving forward social progress and modernization of public services could significantly outstrip growth estimates.

Entitled Driving Public Entrepreneurship: Government as a Catalyst for Innovation and Growth in Europe, the report also advocates authorities leading reforms by altering the delivery of healthcare and social services, employing technology to improve interactions, reducing waste and enhancing procurement processes.

"Our economic modeling shows that Europe has plenty of untapped economic potential to grow both jobs and GDP at significantly faster rates than currently envisaged," Oxford Economics chairman John Walker commented.

Eurostat data for March 2011 indicated the European Union unemployment rate stood at 9.5 per cent, unchanged from the previous month.

Posted by Alex Donnell