While a lack of reform can threaten cohesion of the union, the recovery shows us how decisive reform can strengthen it. *** Ladies and gentlemen, The belief that there are interests of the people that cannot be safeguarded by purely national authorities, and that require the establishment of supra-national institutions, was a constant motivation through the life and work of Tommaso Padoa-Schioppa.
When we think of innovation, we think of people like Sicard and Bombardier, who start from scratch, invent new products or processes, and create companies that soon become drivers of the economy. These innovators help increase our productivity. In recent decades, advanced economies have experienced a sharp decline in productivity growth.