ECB's Trichet on the euro area economy

In the speech 'The euro area economy: determinants of growth, competitiveness and the need for structural reforms' given on 10 October Jean-Claude Trichet of the ECB said euro zone growth may fall below 2 pct in the period up to 2010 and below 1.5 pct by 2020 as a result of Europe's ageing population.

'Forward-looking growth accounting exercises show that these adverse demographic developments would reduce average real GDP growth in the period up to 2010 below 2 pct and in the period up to 2020

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