If the pre-crisis situation is regarded as an achievable goal in the medium term, it is justified to implement highly expansionary policies, in particular fiscal ones, designed to stimulate aggregate demand to achieve the objective as quickly as possible.
In this context, the European Commission’s investment plan for Europe (also known as the Juncker plan) comprising a package of measures to unlock public and private investments in the real economy of at least € billion over the next three years (2015–2017) is undoubtedly in the right direction.