European Bank for Reconstruction and Development
EBRD President Mirow lists reform priorities for the Euro periphery
Southern Europe needs balance between austerity and growth, he says in a
Author(s): Press Office
Date: 26 April 2012
Southern Europe can return to long-term growth if its governments focus
on three vital areas of reform, Thomas Mirow, the President of the
European Bank for Reconstruction and Development, says in a speech on
Economic and Monetary Union today (Thursday April 26^th).
Improving labour markets, reducing regulatory barriers to competition
and investing in education and R & D are all imperative if Italy,
Spain, Portugal and Greece are to deliver sustainable growth again, he
tells the Official Monetary and Financial Institutions Forum.
But he also sounds a warning that, in the short term, too much
austerity can destroy popular support for structural reform.