The Netherlands, for instance, have already implemented three-quarters of the reform measures agreed in Lisbon. In the three largest European economies, Germany, France and Italy, together constituting almost 70% of the GDP of the eurozone, a wide ranging and impressive reform program has been enacted, encompassing reforms of labour markets, pension and health care systems.
The labour markets reforms are aimed at reducing rigidities and improving incentives to work. Germany, for instance, will implement in the context of its so-called Agenda 2010 an easing of its stringent job protection legislation and a reduction of the unemployment benefit duration.