ECB's Trichet says Europe lags US on labour

European Central Bank president Jean-Claude Trichet told a panel discussion on Saturday 23 September that labour productivity is the biggest problem facing the eurozone economy.

"The main, main liability we have" in Europe is "progress in labor productivity, which is significantly inferior to the present level in the US," said Trichet at a panel discussion on Saturday organized by the Bertelsmann Foundation in Berlin, according to Bloomberg News.

"We have a level of rigidity in our own economy

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