EU's Almunia says Europe in good times

Joaquin Almunia, the European Commissioner for economic and monetary affairs, said Saturday 14 April, Europe is enjoying a good recovery.

"Thanks to the reforms launched in the labour markets in many European economies in past years the structural unemployment is being reduced," Almunia told reporters after the G7 meeting of finance ministers and central bankers.

"We are enjoying a good recovery in Europe. During these good times we cannot repeat the errors of the past recovery in 1999/2000 of

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