Jens Weidmann: Speech marking the change in office of the President of the Deutsche Bundesbank Speech by Dr Jens Weidmann, former President of the Deutsche Bundesbank and Chair of the Board of Directors of the Bank for International Settlements, to mark the change in office of the President of the Deutsche Bundesbank, Frankfurt am Main, 11 January 2022.
Fiscal policy can support growth by ensuring that consolidation has a better composition – less focused on raising taxes, more on prioritising expenditure – but it makes no sense to unwind consolidation now that the hard work has been done. This is why I reiterate that there is no bigger policy challenge for the euro area than raising potential growth. Conclusion Let me conclude.