We still face hard challenges, and the ongoing war in Ukraine, on Europe’s very doorstep, certainly adds to the political and economic uncertainty. I would like to take the opportunity of addressing this floor in order to raise some issues that in my opinion deserve particular attention at the current juncture.
Productivity and investment This brings us to the third issue. As I just discussed, international competitiveness is based on our ingenuity, the efficiency with which we produce, or, for short, productivity. But beyond its influence on international competitiveness, productivity is a fundamental determinant of our economic well-being. To improve productivity, we need investment.