It also provides the ingredients for maintaining competitiveness in the face of long-run global challenges. So the question is, what can public policies do to further develop our domestic demand and growth potential, while also encouraging dynamic and globally competitive firms? Policies to boost internal growth In my view, since our challenges are common ones, we must meet them with a common response.
This involves moving towards a new European policy mix, which has a number of key elements. The first is monetary policy, which I start with because it is my area of responsibility and which will undergo a strategic review due to begin in the near future.