Britain's Prime Minister David Cameron will accuse Europe of being uncompetitive and failing to act decisively on the eurozone crisis when he addresses the Davos forum on Thursday.
Cameron is the keynote speaker on the second day of the annual gathering of the world's elite which this year is overshadowed by a deep foreboding about the global economy -- in particular the state of Europe's finances.
After Chancellor Angela Merkel used her address on Wednesday to say that she was not prepared to expose Germany to more flak from the markets to bail out eurozone strugglers, Cameron will urge an end to mere "tinkering".
He will be joined by the prime ministers of Canada and Singapore, who like Britain both retain a gold-plated triple A credit rating -- unlike eurozone states such as France and Austria, which were downgraded this month.
Leaders from Africa meanwhile debated the prospects of the world's poorest continent at a time when developed nations are in the mire and the outlook for the Arab world remains uncertain at best after last year's uprisings.
Cameron's speech, excerpts of which were released in advance, takes a swipe at his fellow EU leaders in his first address on the continent since Britain refused to play a role in a fiscal compact designed to shore up the eurozone.
"This is a time to show the leadership our people are demanding. Tinkering here and there and hoping we'll drift to a solution simply won't cut it any more," he was to say.
This is a time for boldness not caution. Boldness in what we do nationally -- and together as a continent."
On Wednesday, Merkel said that Europe had to become more competitive, a theme echoed on Thursday by her deputy Philipp Roesler, who was also in Davos, pushing for more innovation and ambition from European firms.
Cameron was to expand on the theme.
"Europe's lack of competitiveness remains its Achilles Heel. For all the talk, the Lisbon Strategy has failed to deliver the structural reforms we need," his speech said, in reference to a European treaty signed in 2007.
"The single market remains incomplete. And there are still a colossal 4,700 professions across the EU to which access is regulated by government. And that's not all. We are still doing things to make life even harder.
"In the name of social protection, the EU has promoted unnecessary measures that impose burdens on businesses and governments, and can destroy jobs.
"We can't go on like this," he added.
While the opening day of debates focused largely on the state of capitalism, many of Thursday's sessions took a closer look at the challenges facing individual regions.
The role of Islam in the Arab world was discussed, and the state of the Middle East peace process was on the agenda, with Israeli President Shimon Peres debating with Salam Fayyad, the Palestinian prime minister.
South African President Jacob Zuma, Kenyan Prime Minister Raila Odinga and Tanzanian leader Jakaya Kikwete were in Davos to argue that a new generation of African leaders has a strategy to meet their looming challenges.