The Commission should also examine alternative ways to rebalance the current account imbalances, in particular within the euro area, also taking into account the global context.
In this regard, we must remember that a recurrent theme in the response to the crisis has been the renewed emphasis on structural reforms, and this is reflected in the Euro Plus Pact and Europe 2020 Strategy, which apply to all participating countries, including those in which an excessive level of domestic savings derives from structural rigidities.