Brussels, 19/02/2003 (Agence Europe) - In the preface to a document published on Monday by HM Treasury in London, Tony Blair says that the EU is "still not doing enough" on economic reform. "There is still an awful lot to be done. But we must as Europeans do it, if we wish to remain competitive in a global economy", wrote the British Prime Minister. In the document itself, the Treasury notes that the EU needs to undertake additional economic reforms if the single currency is to succeed. Tony Blair writes: "We know what has to be done- to restructure tax and benefit systems to make work pay, to remove the self-defeating incentives to retire early". In a press release commenting on the document, Chancellor Gordon Brown goes even further, stating "in Europe, we should do more to reform our markets for goods, capital and labour in order to make our economies more flexible (…) despite some progress, the collective challenge we face is immense: levels of productivity, employment and growth have regularly been below those of the US over the last decade (…) If Europe is to achieve its ambition of being a world economic leader and not being vulnerable to the vagaries of the world economic cycle, then we need to inform the Brussels Council next month (Spring Summit, 21 March- ed.: ) that we intend to realize the ambitious objectives we have set ourselves (…) we must understand that, in a world where economies need to react swiftly, and where people need to adapt to change, the flexibility of labour, goods and capital markets are keys to success and not the enemies of social justice". It should be borne in mind that the British government has indicated that it would decide whether or not to join the euro by June, on the basis of five criteria, including economic flexibility. In this context, the Treasury document and the Prime Minister's comments could be grist to the mill of enemies of monetary union (see EUROPE Document 2313 dated 15 February 2003, on the Chirac/Schröder/Blair joint approach to the Spring Summit).