Putting the EU house in order  Let me mention now the institutional changes that are taking shape in Europe which I could label as “putting the EU house in order”, thereby contributing to global economic and financial stability more generally. I mentioned earlier that putting one’s house in order is not sufficient, but it always remains necessary and now more than ever.
At the same time, they should protect economic potential and ensure that the energy shock does not permanently reduce productive capacity. Just as excessively high energy demand would risk keeping inflation high for longer, so would a slump in economic potential. In response to the pandemic, Europeans acted together with consistent policies to protect productive capacity during the downturn.