Zero productivity gains: Is the euro zone heading in the direction of Italy?

Productivity gains continue to slow in the euro zone. This is cause for concern, as Italy has demonstrated the series of harmful consequences of stagnant productivity gains: Stagnant purchasing power and its political ramifications; If wages slightly outpace productivity, decline in cost competitiveness (and market share losses) and in profitability (and investment); Stagnant tax revenues, leading to a reduction in efficient public spending (investment, education, etc.) to be able to finance public transfer spending.