Angel Gurria, OECD: Inaction means lower standard of living

Mar 25: European political leaders need to know that the "cost of inaction" on structural reform is a lower standard of living than the US, according to Angel Gurria, secretary-general of the OECD (Organisation for Economic Co-operation and Development). He tells Scheherazade Daneshkhu, FT Paris correspondent, that European countries need to close the productivity gap with the US through reform of labour and product markets, and improved education.