7/9  BIS central bankers' speeches  One of the aims of this conference is to investigate international and euro area best practice and facilitate the sharing of that knowledge with countries where an effective ecosystem has yet to be established. Conclusion Let me conclude. There are many reasons why it is a priority today in the euro area to address weak productivity growth.
But while some progress can be made in innovation, it is not in my view the sole issue. It is equally important for the euro area to facilitate and encourage the spread of new technology from the frontier to the laggard firms. Simply by diffusing better the technology we already have in the euro area, we could make sizeable gains in productivity.