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European University Institute - Robert Schuman Centre for Advanced Studies

Closing the euro area's technological gap: insights from Isabel Schnabel

European Central Bank Executive Board Member Isabel Schnabel addressed the second EMU Lab event with a lecture on tackling the euro area's competitiveness crisis.

19 February 2024 | Policy dialogue

Isabel Schnabel - inaugural lecture 16 Feb 2024

At the event held on 16 February in Florence, Schnabel emphasised the euro area's strengths in social protection and environmental initiatives while highlighting a pressing competitiveness crisis spanning three decades. She noted that many euro area businesses are falling behind in productivity, digital investment, and research compared to global peers.

Schnabel advocated for increased integration, deeper financial markets, and a supportive regulatory framework to stimulate investment. These measures, she argued, are essential for euro area firms to bridge the technological gap, adapt to demographic changes, and manage the digital and green transition effectively.

The recording of Schnabel's lecture is available below, and her full speech is here.


The Economic and Monetary Union Laboratory (EMU Lab) is a collaborative initiative driven by the Tommaso Padoa-Schioppa Chair and the Pierre Werner Chair, aiming to reassess the Economic and Monetary Union's structure in light of current European and global economic conditions.

Isabel Schnabel’s inaugural lecture - EMU Lab

Isabel Schnabel’s inaugural lecture - EMU Lab

Last update: 19 February 2024

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