Firm-level analyses in the euro area suggest that there is much scope for improvement here. 4 Within individual countries there are a few highly productive firms and many which have low productivity.
It is essential to act so that those high-productivity firms can grow, so that they can benefit from an adequate flow of capital them and so that the people have the skills needed to be able to work there. To achieve each of those three goals – growth, finance, skills – we need structural changes. 3.