ECB's Papademos says structural reforms needed

European Central Bank vice-president Lucas Papademos said in a speech on Thursday differences in euro zone countries' growth rates result from structural factors and will have to be tackled by economic reforms in slow-growing countries.

'The divergences observed in the euro area are fundamentally the consequence of structural and not of conjunctural factors,' he said in a speech at an ECB conference.

'The policy implication of this general diagnosis is that more economic reforms are needed to

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