As this audience knows better than most, the low growth environment is posing serious challenges for businesses. Uncertainty about the future is a drag on confidence and a barrier to new investment. It causes banks to cut back on lending, especially to small- and mediumsized firms, which are critical to help growth rebound.
And above all, low growth is deeply affecting the lives of ordinary people in Europe. As a result, many are frustrated, and some are even desperate. They doubt whether the European strategy to deal with the crisis is the right one.