This Monday, the European Central Bank urged all the eurozone economies to implement further structural reforms in many sectors, including their labor markets, in order to stimulate economic growth and to reduce unemployment.
The latest report says that such reforms are needed to create new jobs and to restore the competitiveness of European economies. The reforms implemented in Germany in the early 2000s may serve as the etalon. However, it is also necessary to take into account the specifics of peripheral economies and to work out individual approaches to each one of them.
