[Question] In recent weeks the ECB has been stressing the fact that in Europe not much use is being made of the new technologies that could help to boost the economy's productivity. Can you explain the reasoning behind your concerns? [Answer] There are a number of signs that are suggesting that the IT revolution has not yet materialized in the European labour productivity progress.
In the United States it occurred between mid 1990’s with the disappearance of the so-called “Robert Solow paradox” (“Computers are found everywhere but in the productivity data” – Il Sole-24 Ore editor's note). So we are convinced that fresh efforts are needed in Europe to take full advantage of the IT revolution and to foster research and technological innovation.