Well, policymakers should continue what they started during the Covid crisis and use the current windfall of low interest rates to address the structural challenges our economies face. That will not only offer us a chance to improve the resilience of our monetary union, but also help to future-proof our economies.
Johan Witteveen was very critical of fiscal policy in Europe during the European debt crisis. I would have loved to hear his opinions on our discussion today. He would no doubt have added some profound insights, and probably have alerted us to some shortcomings in our thinking.