Loose fiscal policies might push up interest rates, with the ECB being blamed for pursuing an overly strict monetary policy. Although a central banker is used to being blamed for all kinds of unsatisfactory economic developments, it is better to prevent this to the extent possible.
However, to bring about a sustainable recovery, additional support will be needed from the political sphere in the shape of structural reforms in various areas. Only in this way can we reverse the growth trend over the long term and increase growth potential.