This is true both in terms of cyclical stabilisation and long-term fiscal sustainability, although we lost focus in the pre-crisis years.
The conclusion to be drawn from developments in the 2000s, not only in Denmark but throughout the EU, is that if fiscal policy  2  BIS central bankers’ speeches  is procyclical in a boom, it will have to be procyclical also in the subsequent downturn. Obviously, this is not expedient.