Moreover, to fully exploit the potential of the economy, it is crucial that structural reforms in the labour and product markets in the euro area economies, which are fortunately on the agenda in many countries, proceed at a faster speed.
These will both increase the resilience of the economy to adverse shocks and ensure that a higher pace of economic growth in an environment of price stability can be attained. We will continue to remind all economic actors, for the areas under their responsibility, of this necessity.