Trichet discounts productivity gain

Recent improvements in the eurozone’s productivity performance were 'probably cyclical' rather than long lasting, Jean-Claude Trichet, the European Central Bank President, argued on the 17 January 2008, highlighting the bank’s sceptical view of economic reforms across the region.

European Central Bank: Speech, 17.1.08: Jean-Claude Trichet: The creation of economic and corporate wealth in a dynamic economy - Contribution to the panel discussion, http://www.ecb.int/press/key/date/2008/html/sp080117.en.html

European central Bank: Monthly Bulletin, January 2008: Productivity developments and monetary policy http://www.ecb.int/pub/pdf/mobu/mb200801en.pdf

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