However, private sector investments frequently also demand public investments in key infrastructure and human resources. Therefore, the growth strategy for the future should include public sector investments for improving the public infrastructure and strengthening our human resources. In times of external shock-inflicted economic crises, the strict budgetary norms can act counterproductive and dampen prospects of economic recovery.
But we should also be clear: we would be worse off today, both economically and politically, if we had not followed this path. From the single market to the euro But the single market also had a further effect: it led directly to the euro. Once Europe decided to embark towards a fully integrated market, a single currency was desirable, if not essential.