Resilient Europe Must Reform to Boost Growth, Patsalides Says

Europe’s economy is holding up well to challenges but must push on with reforms to compete effectively with rivals, European Central Bank Governing Council member Christodoulos Patsalides said.

“The European economy it’s still exhibiting resilience,” the Cypriot official said Tuesday in Nicosia, while describing its current growth rate of 1% as low. “It’s evident that the euro zone and the European Union in general needs to become more competitive.”