As part of the response to the crisis, a significant number of market reforms were introduced to boost economic activity and competitiveness. The intense reform effort appears to be showing early signs of effectiveness in some of Europe's most vulnerable countries. Insufficient reform efforts in...

Structural reforms to labour and product markets help to improve economic growth prospects and the ability of economies to adjust to shocks by expanding flexibility and improving the efficiency of how and where productive factors are used. The recent financial and economic crisis prompted EU...