Rigidity ‘block to European growth’

THE rigidity in some of Europe’s biggest labour markets is a major reason European economic growth has fallen behind most of the world, European Commissioner Charlie McCreevy said last night.

The former Finance Minister, who was addressing the Dublin Economic Workshop 28th annual economic policy conference in Kenmare, Co Kerry, said: “It can’t be efficient to operate an internal market with 25 different sets of legislation for a wide range of service areas.”

The Commissioner for the Internal Market and Service said Europe has the resources, infrastructure, stock of wealth, and many of the competitive advantages needed to face the challenges of intensifying global competition and demographic ageing.