On that point, the White Paper on Small and Medium Enterprises pointed out that “in firms that made direct investment overseas, the number of workers once decreases by about 10 percent after the investment, but in six to seven years, domestic workers increase compared with firms that did not make investment” (Chart 3).
This assessment is also broadly reflected in the March 2014 ECB staff macroeconomic projections for the euro area, which foresee annual real GDP increasing by 1.2% in 2014, 1.5% in 2015 and 1.8% in 2016. Compared with the December 2013 Eurosystem staff macroeconomic projections, the projection for real GDP growth for 2014 has been revised slightly upwards.