While the instruments of economic governance have been strengthened considerably during the crisis, no progress has been made in the social dimension of Europe. Within the framework of the European Semester the more strictly monitored and centrally controlled budget policy has further consolidated the already existing subordination of social objectives in the EU. This article takes stock of the Europe 2020 strategy. The focus is on the contradiction between the social and employment targets and the simultaneous requirements for the consolidation of public budgets in the context of the European Semester. In particular the various indicator systems that exist in the social field are discussed. Their complexity and inconsistency are highlighted and questions about their additional value are raised. Finally, improvement potentials of the Europe 2020 strategy will be discussed.