Relative unit labour costs have also fallen significantly, since 2008 (in Greece by over 20%). •  As a result, current account deficits in these countries have turned into surpluses in recent years.
For this reason, and in order to be able to benefit to the full from the renewing economy, we must continue the structural reform policies (further improving the operation of the labour market, especially on the supply side, and of a number of product markets).