EU warns Europe needs major economy reforms

European Commissioner for Economic and Monetary Affairs Olli Rehn addresses the Brussels Economic Forum in Brussels, Tuesday, May 25, 2010. The European Union's economy chief has warned that the region will stagnate unless governments make major reforms to boost growth. (AP Photo/Yves Logghe) (AP Photo/Yves Logghe)

May 25, 2010 8:00:15 AM PDT
Europe's economy will stagnate unless governments make major reforms to boost growth - just as they rein in spending to curb soaring debt levels, the European Union's economy chief warned Tuesday.

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