Agence France-PresseSeptember 16, 2013 05:16
European Central Bank chief Mario Draghi called on eurozone governments Monday to do more to encourage investment in order to boost competitiveness.
"One way to regain competitiveness quickly is to address... nominal wages," Draghi told an economic conference in Berlin.
"Another, long-term approach is to... achieve higher productivity."
And Draghi continued: "While cost adjustments increase competitiveness only relatively, productivity gains, by increasing trend growth, can be absolute and benefit all countries.