That is obviously good for fiscal consolidation. Thus, I repeat that it is best to avoid getting trapped by pessimism. D.  Domar’s theorem  Fiscal sustainability generally means that the future outstanding amount of the government’s debts relative to GDP will not reach an unmanageable level.
More than ever, Europe, coping with the present challenges, needs to demonstrate its sense of direction. This is no time for fatigue. This is no time for complacency. Thank you for your attention. BIS central bankers’ speeches  5