The remodeled foundations’ sizable endowments fueled expectations that they might satisfy the growing financial needs of the voluntary and non-profit sector.
Wise policy actions therefore include two central elements: •  first, credible exit strategies must be planned and promptly implemented once macroeconomic measures have had their desired effects; and  •  second, policies must aim not only to stimulate domestic demand over the short run, but also to foster longer-term structural adjustments. Needless to say, these elements are fully valid also for Europe.