In Ireland, other business-related services also showed substantial growth. Compared to its pre-crisis level, real value added in trade and tourism increased in Portugal and remained virtually unchanged in Spain. Progress has been uneven, though, and further reforms are needed to facilitate this shift from the non-tradable to the tradable sector and, therefore, to strengthen sustainable growth.
Overcoming the crisis is still an uphill struggle; if you don’t go forwards, you go backwards. With regard to reforms, governments therefore have to keep the pedal to the metal. In footballing terms, I would say “the half-time whistle has blown”. However, there is no time for a break.