Trichet: How to elevate Europe's potential growth

In the speech 'How to elevate the potential growth rate of Europe' given on 16 October Jean-Claude Trichet of the ECB said the euro zone's growth potential is "mediocre" and structural reforms are urgently needed to boost economic growth.

"Since 1996 the annual growth rate in the euro area has averaged 2.1 pct per year compared with 3.4 pct in the US, reflecting a particularly mediocre euro area growth potential," he said in the speech.

"The lack of sufficient structural reform in Europe is, in my

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