We’re seeing signs that the housing market is improving in the Greater Toronto Area, while prices and activity are still adjusting to more sustainable levels in the Greater Vancouver Area, and Alberta’s market continues to adjust to lower oil prices.
For the euro area, too, increased labour mobility across borders is crucial. We should see that the current institutional arrangements of the welfare state do not stand in the way of such mobility. The portability of entitlements across borders is a crucial pre-condition for such mobility and should be fostered.