Although Italy can count on a growing segment of dynamic and innovative firms, which are responsible for the country’s improving competitiveness on international markets over the last ten years and which has made an important contribution to our return to a net creditor position after thirty years, the production system still has its weak points (Figure 7).
BIS central bankers’ speeches  1  The role of monetary policy One characteristic of this crisis was the fall in the potential growth rate in the euro area, which is the pace at which the economy can grow on a stable basis without overheating, and so without generating inflation.