This outlook is contingent on a continued supportive business environment at the global level and on the pursuit of institutional and structural reforms in the euro area. Headline inflation increased significantly in May, primarily due to higher oil prices, and stood at 2.0% in June according to Eurostat’s flash estimate.
I have said this many times in the past and I will say it again today that we must make productivity a national vision. The national leaders must get excited about productivity. Everyone at whatever level can make a difference on how we do business irrespective of whether you are in the public or the private sector or in between.