That means together exports and investment need to grow by at least about 4 per cent after taking into account their import content. In the past year, net exports and investment made no contribution to growth. Conditions are propitious for business investment to accelerate. Corporate balance sheets are exceptionally strong, and corporate borrowing rates remain very low, even if they are off their troughs.
His comment was born of good intentions: to facilitate the financing of SMEs. But there are other instruments available for that purpose. It would be useful if, once a year, the ministers of finance and economic affairs of the EU were to examine the impact of regulation on the financing of businesses.