During the past 25 years, the European Union (EU) has accumulated a significant economic performance gap with the rest of the world, particularly the United States (US). One of the most striking aspects of this disparity, as this scoreboard shows, is the persistent difference in growth, productivity, and investment levels. Consequently, the Euro area needs to get on the right track: strengthen fiscal responsibility, fight persistent inflation, implement more supply-side reforms aimed at raising productivity and promote equity financing, as well as take steps to complete the Banking Union and implement the Capital Markets Union. But these steps can only be contemplated if sufficient discipline begins to reverse the trend of ever-increasing economic heterogeneity across Member States […]