the future, boosting productivity, and mobilizing the workforce—that can help Europe achieve its aspirations. We find that by scaling and speeding reform, mostly at the national level, and stimulating investment and job creation throughout the region, Europe could close its output gap, return to sustained growth of 2 to 3 percent a year over the next ten years, unleash investments of €250 billion to €550 billion annually, and create more than 20 million new jobs