2)  Continuity, consistency, predictability and transparency in economic policies have a better pay-off in terms of restoring the confidence of investors in particular and economic actors in general. 3)  Structural reforms such as privatization, deregulation and liberalization are critical for attaining macroeconomic stability and economic growth.
While the moderate evolution of labour costs in the euro area is expected to continue in 2007 – also reflecting ongoing global competitive pressures, particularly in the manufacturing sector – indirect effects of past oil price increases and already announced changes in indirect taxes are expected to exert a significant upward effect on inflation in the course of next year.