Italy, Spain and Portugal have
passed reforms in recent years that have helped cut
unemployment, European Central Bank chief Mario Draghi said
Wednesday.
"These reforms also seem to have made unemployment more
reactive with respect to growth," Draghi said.
He said "structural policies are one of the main factors that
explain these positive developments.
"But naturally underlying financial and macroeconomic
policies have been just as fundamental".
In reaction, ex-premier Matteo Renzi, whose former government
enacted structural reforms including to the labour market, said
"thank you Draghi, your words are significant".
Draghi was addressing a conference at the ECB on Structural
Reforms in the Eurozone.
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