In particular, all existing barriers to labour mobility within the euro area – in particular as regards Slovenians – must be removed. As to product markets, let me stress that it is essential that the Single Market must be fully completed, particularly in services and network industries. A deeper integration of markets would stimulate price flexibility by fostering competition and open product markets.
Greater cross-border competition and the integration of markets across the euro area countries would contribute to lower prices. It could also enhance the adjustment processes in the individual countries in the event of asymmetric shocks or differing cyclical developments.