"For all the freer movement of goods and capital within the EU, the labor markets are not free. A combination of regulations, quotas and different work rules, as well as taxes serve to remove labor markets from the adjustment mechanism.
Without a freeer EU labor market, a move to budgetary integration is nonsensical."
The Wall Street Journal today reports the ECB publishing a 126 page report on the importance of labour market reforms. If the EU, specifically the economic union, is to fulfill its basic promise, Europe has to come to a consensus on these issues. Instead, European media continues to focus on meetings of Brussels eurocrats talking among themselves about nothing but preserving their own jobs.