Eurozone periphery slow in competitiveness gains

Struggling Southern European economies are only slowly and unevenly becoming more competitive in terms of their domestic costs compared with their main trading partners, European Central Bank data showed on Monday.

Greece and Portugal gained most in competitiveness vis-a-vis their trading partners, both within and outside the eurozone, in the 12 months to March, the study of movements in consumer prices in the eurozone and economies it trades with showed.

The competitiveness of Greece and Portugal gained 1.9 and 1.8 percent respectively, followed by Ireland with 1.2 percent, the monthly study said.