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Image header Agence Europe
Europe Daily Bulletin No. 9874
Contents Publication in full By article 15 / 42
GENERAL NEWS / (eu) eu/economy

Differing levels of competitiveness increase within Eurozone

Brussels, 01/04/2009 (Agence Europe) - On Tuesday 31 March, the European Commission published its quarterly report on the economy of the eurozone, in which it carried out a detailed examination of developments in terms of price competitiveness since the launch of the euro. These questions are among the elements on which the Eurogroup has decided to carry out extended macro-economic surveillance, just as it did for the public deficits. Diverging tendencies have come to light over the last 10 years between member states, some of which have seen a sharp drop in their price and cost competitiveness, with others making net progress (thus giving rise to the increased differences between their current deficits). This situation may lead to increased unemployment in the coming years, unless more robust political measures are taken, the Commission warns, recommending that better use is made of the budgetary policies and that the production and employment markets are relaxed. The report is available at: http://www.ec.europa.eu/economy_finance/ thematic_articles/article14654_en.htm. (A.B./transl.fl)

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