WASHINGTON, April 10 A recovery in the euro zone
economy is uneven with growth steady in some countries and
anaemic in others, European Central Bank Executive Board member
Peter Praet said on Thursday.
Praet, who holds the Executive Board's economics portfolio,
called for "catching up" countries to improve their productivity
with structural reforms to narrow the divergence between
economies in the 18-country bloc.
"The latest data confirm that the euro area on aggregate is
proceeding slowly along the path of economic recovery," Praet
said in the text of a speech on 'The Financial Cycle and Real
Convergence in the Euro Area' for delivery in Washington.
"Yet ... some euro area countries are experiencing steady
growth, while in others growth remains anaemic," he added.
Structural reforms and integration of the euro zone
financial market through the banking union project "should
provide the conditions for efficient resource allocation and
hence sustainable convergence in the future," he said.
(Reporting by Jan Strupczewski, Writing by Paul Carrel)