But a survey found that only half of Americans aged over 50 gave the correct answer. If so many people are financially challenged, it is hardly surprising that they struggle to deal with financial decisions. The solution seems obvious: provide more financial education. But is it possible to teach people to be more financial savvy?
We do not see a need to change the Treaty, and we consider the Stability and Growth Pact appropriate in its current form. It provides appropriate incentive structures to national policymakers within a multi-country monetary union. If applied appropriately, the framework ensures long-term sustainability and sufficient room for an automatic smoothing of business cycles.