We examine the effect of weak, small scale magnetic field structure on the
rate of reconnection in a strongly magnetized plasma. This affects the rate of
reconnection by reducing the transverse scale for reconnection flows, and by
allowing many independent flux reconnection events to occur simultaneously.
Allowing only for the first effect and using Goldreich and Sridhar's model of
strong turbulence in a magnetized plasma with negligible intermittency, we find
that the lower limit for the reconnection speed is the Alfven speed times the
Lundquist number to the power (-3/16). The upper limit on the reconnection
speed is typically a large fraction of Alfven speed. We argue that generic
reconnection in turbulent plasmas will normally occur at close to this upper
limit. The fraction of magnetic energy that goes directly into electron heating
scales as Lundquist number to the power (-2/5) and the thickness of the current
sheet scales as the Lundquist number to the power (-3/5). A significant
fraction of the magnetic energy goes into high frequency Alfven waves. We claim
that the qualitative sense of these conclusions, that reconnection is fast even
though current sheets are narrow, is almost independent of the local physics of
reconnection and the nature of the turbulent cascade. As the consequence of
this the Galactic and Solar dynamos are generically fast, i.e. do not depend on
the plasma resistivity.