The key question now has to be how to get the economy back onto a path of strong, balanced and sustainable growth. Our session is entitled “Economic and Financial Stability in Europe: The Road Ahead”. With this brief in mind, I would like to focus on two core issues on the way to an environment that supports solid growth.
In addition, business investment should be solid, even with recent declines in oil prices. Sizable fiscal stimulus has provided an important boost to demand this year and will likely contribute somewhat further next year, given the usual lags in outlays and in the effects of tax cuts on business and household spending.