In this approach, the current framework can also be strengthened by intensifying crisis prevention measures. This comprises, in particular, a macroeconomic surveillance procedure, as is currently envisaged, and tighter restrictions for fiscal policy, including improved monitoring and implementation. The aim of lowering deficit and debt quotas has to leave the page and become a reality.
Some consider that the global economy may be in danger of entering a period of secular stagnation characterised by excess desired global savings relative to investment and weak global demand. 3 Others question whether rates of innovation and technological progress are slowing and whether productivity gains from the ICT revolution have been largely realised. 4 The inflation picture also, is complicated.