Many countries are finding the ‘strong, sustainable and balanced growth’ talked about in the G20 process to be rather elusive.
To prevent such divergences from arising, we need a common framework that ensures that all Member States – within their specific national settings – stay committed to regain, when necessary, consolidate and preserve their relative competitiveness. Misguided national economic policies can lead to the emergence of excessive competitiveness gaps between the members of the currency union.