Crises are opportunities to reflect on the rules and institutions in force, and it falls to policymakers to take and manage these opportunities in a concerted manner. 1  According to Eurostat data, the lowest values in August were in Austria and Germany (4.9% and 5.2% respectively) and the highest were in Greece and Spain (27.9% (June) and 26.2%).
2  Various pieces of research, using different methodologies, suggest that high levels of public debt, normally above 90%, have a negative effect on economic growth.