Nowadays the two big questions which many people have in mind when they think about this topic are: is the euro area economy at a turning point? And: what can we do to move to a path of high, sustainable growth? In my presentation, I will share some thoughts with you and provide some tentative answers.
I will look at these issues from a particular angle. First, I would like to discuss the recent economic developments and the uncertainty we face regarding the economic outlook. Part of the uncertainty relates to the assessment of labour productivity developments, which will be the main topic of the second part of my speech.