First, the introduction of measures to increase productivity, such as improving the business environment and providing adequate public infrastructure. Second, the implementation of growth friendly fiscal policies, while adhering to the fiscal rules of the European Union. And finally, the completion of the banking and capital markets union, which would greatly strengthen the euro area’s capacity to withstand future shocks.
Combined, this would make the euro area fit to deliver a more prosperous future for its citizens. Thank you for your attention. References Goodhart C., P. Pardeshi and M. Pradhan (2015), “Workers vs pensioners: the battle of our time”, Prospect Magazine, December. Gordon, R.J. (2016), “The Rise and Fall of American Growth: The U.S. Standard of Living since the Civil War”, Princeton U.P.