European Central Bank

In a comprehensive analysis, renowned economist and former Italian Prime Minister Mario Draghi warned EU countries that if their economies continue to grow as they have been, they are in for "slow agony". Well, stagnation. According to the former chief of the European Central Bank, the EU economies will be as large in 2050 as they are today, mainly because the number of people of working age will fall. The only way to reverse this trend is for EU countries to significantly increase their productivity. However, productivity in Europe has grown much more slowly in recent years than in the United States, for example. Filip Křenek, project coordinator and analyst at EUROPEUM Institute, commented for Hospodářské noviny.