Germany pushing for faster reform

The rules have managed to spur in all euro zone countries a "general political mobilisation towards structural reforms and greater competitiveness", Spiegel cited the report as saying in its edition published.

Germany pushing for faster reform

World Bulletin / News Desk

Germany wants further reforms and savings in crisis-hit euro zone states, according to a report obtained by German magazine Spiegel in which Berlin evaluates progress made under strengthened EU budget rules.

The rules have managed to spur in all euro zone countries a "general political mobilisation towards structural reforms and greater competitiveness", Spiegel cited the report as saying in its edition published on Sunday.

However, in Italy there remained "further room for labour market liberalisation", while in Greece and Spainfurther reforms to overcome rigid labour laws were "essential".

In order to improve its finances, France had increased its revenue intake, but also needed to cut spending, the report, prepared by Chancellor Angela Merkel's office continued.

Reforms take time, it acknowledged, but faster progress was necessary.

Chancellor Merkel's office declined to comment.

Last Mod: 12 Mayıs 2013, 09:47
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