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To: Crimson Ghost who wrote (13342)	10/12/2004 5:12:54 PM
From: mishedlo	Read Replies (1) \| Respond to of 116555

Trichet: Europe needs structural reforms European countries need to cut welfare benefits and job protection measures if the European Union (news - web sites) is to compete with the United States in terms of productivity, European Central Bank president Jean-Claude Trichet said Tuesday. In a speech reviewing the performance of the euro over the past five years, he said that the introduction of the single European currency had been a success, but its impact on economic growth in the region had been dampened by the lack of reform. "The United States is doing much better since 1996" in terms of productivity growth, he said. news.yahoo.com