But it was chaired by the then President of the Commission: Jacques Delors. The euro was always a political project that sought to establish even closer ties between the nations of Europe. But of course, it was more than just a political project – it was also a promise of prosperity.
The ability of businesses to boost productivity with what seems to be minimal new capital investment over the past two years suggests that output per hour growth in the later years of the 1990s likely trailed the growth in underlying productivity in those years.