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Greek Finance Minister Yannis Stournaras prepares before a news conference in Athens on May 9, 2013, on the liberalization of closed professions and markets.
Greek Finance Minister Yannis Stournaras prepares before a news conference in Athens on May 9, 2013, on the liberalization of closed professions and markets.
(JOHN KOLESIDIS/REUTERS)

BREAKINGVIEWS

Root-and-branch labour reform needed to put EU back to work

Reuters Breakingviews delivers agenda-setting financial insight. Its global correspondents react to stories as they develop, delivering sharp and provocative commentary on big financial news as it breaks. Click here to read more international insights.

Unemployment in the European Union has hit some unfortunate milestones. The rate is at a record high in the whole euro zone, as well as in such member countries as France, Spain, Portugal and Greece. It’s easy, and fair, to blame the recession, but deep-seated labour market rigidities are culprits too.