It is key that the possibility for Member States to apply these stricter requirements should be framed within the single EU rulebook framework. To this end, specific safeguards should be put in place. First, definitions should remain intact; only quantitative ratios and limits can be tightened.
At the same time, there is scope for private consumption to contribute to the expected rebound in growth in the near term. Denmark’s export growth is lagging behind that of other countries. Industrial production remains low. The deterioration in Denmark’s wage competitiveness over a relatively long period gives cause for concern.