ECB's Papademos on growth in euro area economies

In the speech 'Growth and competitiveness in euro area economies' given on 22 September Lucas Papademos of the ECB said growth in Germany and Italy has lagged behind the rest of the eurozone in recent years because of specific structural problems in the two countries.

'Since the mid-1990s Germany and Italy have persistently been growing at rates below the average observed across the rest of the euro area, which might reflect some long-lasting structural problems in these countries,' Papademos

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