Erkki Liikanen: Economic policy and economic theory facing challenges after the financial crisis Speech by Mr Erkki Liikanen, Governor of the Bank of Finland, at the Finnish Economic Association annual meeting, Tampere University, Tampere, 5 February 2010.
Today, I would like to outline in more detail what we need in terms of the statistical implications for the “quantum leap” that is needed in economic surveillance. There are essentially three points. First, the reliability of the general government statistics underlying the Excessive Deficit Procedure and the Stability and Growth Pact must be guaranteed when they come out.