Financing would be much costlier for firms. And governments would see the cost of servicing their debt soar. Inflation – which, incidentally, our fellow citizens have said a firm “no” to – is most definitely not the solution! Le Point: Since the onset of the crisis, politicians have been saying they will carry out a thorough review of the financial system.
I am very pleased to be here in Dublin today. When, last year, the Institute of International and European Affairs kindly invited me to give a lecture on Europe’s competitiveness, I was delighted to accept the opportunity to look at Europe’s economy from a broad perspective and to focus particularly on the growing challenge of globalisation.