core sector communique

European Leaders Call for Greater Eurozone Transparency and Structural Reform Structural reforms in pension and tax structures are needed to sustain recovery Improvements in education and infrastructure are vital to maintaining competitiveness Improved economic cooperation essential to winning public confidence Davos, Switzerland, 27January 2011– Europe is recovering from the financial crisis more slowly than expected. Growth for the Eurozone is projected to be 2% below the global average for 2011. European leaders at the World Economic Forum Annual Meeting in Davos say that the Eurozone needs to strengthen its identity and to make long-needed structural reforms if it wants to continue to compete in a world that is rapidly changing.