And it is true that the very rapid development of the big emerging economies, in particular in Asia, is a new important challenge for all the industrialised economies and calls for equally rapid adaptation of Europe to this new global deal.
[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.