Benoît Cœuré: Scars that never were? Potential output and slack after the crisis Speech by Mr Benoît Cœuré, Member of the Executive Board of the European Central Bank, at the CEPII 40th Anniversary Conference, Paris, 12 April 2018.
We should finally understand that the current macroeconomic policy cannot be continued: it is completely unrealistic to expect that the time of a) cheap foreign funds and b) plentiful foreign investment will suddenly return to help us finance our current account deficit of 15 – 20%.