Today, the World Economic Forum study was revealed, which said that Sweden stayed the most spirited nation in the European Union, and Finland and Denmark follow it.

In the analysis based on pointers like financial and output development, study and growth spending, and redundancy, those three Nordic countries was above Netherlands, Luxembourg and Germany in the rank.

It has been said that Italy was third in rank when it came to the least spirited country, just higher than Romania and Bulgaria at the base of the list. Seeing from last Greece was the fifth in rank.

The WEF’s Founder and Chairman stated, “While some progress has been made, much remains to be achieved in order to fully harness Europe’s economic potential,” Klaus Schwab, accelerating the reform process” across the EU “will be critical for ensuring that the region gets back to growth”.

A study has shown that the Nordic countries are the toughest performers in Europe in the region of modernization, in implementing latest technologies and their level of spending on R&D.

WEF analysis shows that nations from mostly Eastern Europe who had united with the EU in 2004 was ahead in rank of a lot of longer-standing EU members in the research, counting Slovenia, Estonia and the Czech Republic. Those three nations came in above Portugal, Spain and Italy.