The precautionary programme will help enhance the credibility of the macroeconomic adjustment process in the period immediately after the conclusion of the Programme. The associated conditionality is, on the one hand, the counterpart to our European partners’ solidarity and, on the other hand, a key element to consolidate market confidence in the country’s economic policies.
Turning to medium-term conditions, it is crucial that the European Union implements mechanisms of economy policy coordination and establishes a process of cooperative European growth. In this context, European countries with a favourable economic situation should make use of the leverage available to them to expand their domestic demand, contributing to a more balanced and sustainable adjustment of the whole economy.