Or we can try to make the path wider by setting out a comprehensive strategy designed to redirect the public finances to more productive uses and to increase the efficiency of general government, especially in spending programmes aimed at accumulating both material and immaterial public capital and at supporting business activity and innovation.
It is in any case essential that the fiscal objectives are and appear to be strongly and credibly oriented towards financial stability, and that the reforms are effectively geared towards sustained – and inclusive – economic growth.