The Eurosystem has additionally set up a Market Advisory Group, in which payment systems experts deliberate on the potential design and distribution of a digital euro. This is because intermediaries are indispensable. These are the people with the expertise and direct access to customers needed to create and distribute attractive private payment solutions based on a digital euro.
In thinking about productivity in the future, it is useful to first consider how it has behaved in the distant past and more recently. The past offers lessons about the kinds of economic and political environments that have proven most effective in fostering high rates of productivity growth.