An analysis of the key challenges facing each country is included in the report. Spain is told that it needs to establish longterm financing for agerelated expenditure (pensions, presumably), to reduce unemployment especially of women, and to combat the problems resulting from high inflation combined with low productivity. Britain's main problems are identified as low productivity, the quality of public transport services and high unemployment; the inclusion of high unemployment will raise some eyebrows in the UK but there can be little dount about the need for improvement in productivity and public transport there.
The report awards up to three stars for achievement in three sectors public finances, labour markets and product markets. Denmark and Sweden score eight out of a possible nine, Britain gets seven, Spain six. But Austria and Germany are at the foot of the table with only four each. Clearly, much remains to be done.
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