In this country, several official reports have suggested that high corporate and labour tax rates hinder investment. The focus of the current government on this issue is therefore fully justified. Is the education system conducive to investment? Europe’s comparative advantage, like all advanced economies, is increasingly located at the high-end of the value chain.
The Eurosystem’s role on the international scene will tend to expand and develop over time, in step with its growing experience and the gradual evolution of the ECB’s organisation. In the context of international cooperation, the Eurosystem and the ECB will also play an increasing role in providing technical assistance in their fields of competence.