Policies on both sides of the Atlantic aim at rebuilding confidence, though the paths vary. While you in the US trust fiscal stimulus to actively rouse the economy from its current stupor, euro-area governments are basically trying to stick to the planned fiscal consolidation paths in order not to undermine hard-won confidence in their stability-oriented fiscal policies.
2.2  Structural policy: growth orientation  So, if macroeconomic policies need to be geared towards stability, then who is responsible for growth? It’s economic policy makers’ business to design a framework conducive to growth in which enterprises can thrive. Pro-growth policies are multi-faceted, but at the end of the day you must get the incentives right: incentives to invest and incentives to work.