He emphasized the "one big wave" of improvement in productivity growth that began in about 1913 and extended to about 1972, with especially rapid growth during the golden age between 1950 to 1972. He links this rapid growth in this period to the string of important innovations in the late nineteenth and early twentieth centuries.
We have tried to contribute by developing an advanced digital system that helps to better target joint efforts in this area through detailed payment information. Cross-border payments still leave much to be desired, particularly (as the initiators of Diem will report) in terms of transfers to less developed countries, but also between European countries – and even between countries in the Nordic region.