We also agree with the main conclusion of the High Level Group chaired by Wim Kok that - in preparation of the mid-term review of the Lisbon Strategy - has stressed the advantages of sharpening the focus on the key issues in order to revamp the structural reform process in Europe.
Indeed, in the last decade, euro area countries have made some tangible progress with their structural reform programs. Competition in product markets due to, for example, a lower level of state aid and de-regulatory measures has increased, especially in network industries. This resulted in significant downward price effects in some sectors like telecommunication.