Provided the funds are deployed for productive public spending and accompanied by productivity-enhancing structural policies, Next Generation EU will contribute to a faster, stronger and more uniform recovery and will increase economic resilience and the growth potential of Member States’ economies, thereby supporting the effectiveness of monetary policy in the euro area.
I see an exciting future for the ARS as we go forward, based on the research underway at the Central Bank of Barbados (CBB), on policy options in what we are calling the Small Very Open Economies (SVOE). We see an opportunity here to exploit an unfulfilled niche in the global market for ideas.