In the aftermath of the crisis, many countries may not be able to rely on sustained GDP growth to smoothly reduce their debt burdens. This means that ambitious plans for structural fiscal consolidation need to be developed and communicated in order to guarantee the public’s trust in the sustainability of public finances. 4  See, for instance, G.B.
Owing to this, central banks have been able to attain their inflation targets with relative ease and, as a result, enjoyed increasing credibility. A number of problems have arisen due to this global phenomenon of low inflation which we can not overlook.