In addition, the retirement age has been raised as well. Product market rigidities that weaken competition, produce regulatory red tape, and inhibit growth, are also being addressed.
And according to the World Bank’s Doing Business Report, progress has been made in this regard as well: Portugal, Italy, and Spain have climbed up the ranking ladder by 17, 13, and 10 positions respectively over the last four years. Greece moved up by 37 positions.