Let me give you an idea of just what could be achieved by effecting the appropriate reforms. The IMF conducted a study to determine which OECD countries have the most growth-friendly tax regimes, labour markets and social insurance systems. IMF economists then calculated what would happen if euro area member states closed half of the gap to the leaders.
[8] That number needs to increase. Third, we need to see more women in leadership positions, since that could support trade openness and arrest the slide towards fragmentation. Female leaders tend to possess qualities that can be especially beneficial in times of geopolitical tensions.