There may well be a place for such measures, as discussed, but the first line of defence is that each country should make its economy more resistant and restore the fiscal room to manoeuvre that 1/3  BIS central bankers' speeches  has now disappeared. Yet we have to admit that our budgetary rules have not attained their objective.
That leaves growth running more slowly than was anticipated earlier in the year. But if output growth fell slightly short of expectations, it was not due to apparent lack of demand.