The Government has announced its intention to resume fiscal 7  consolidation in 2022, the first year beyond the planning horizon; the resumption of fiscal consolidation would be brought forward only if, by 2021, real GDP and employment had returned to pre-crisis levels.
the ability to address today’s most pressing policy challenges, such as international macroeconomic cooperation, global imbalances, financial regulatory reform or protectionism has partly evaporated from the Nation-State to the global level. But politics, i.e. legitimacy in taking decisions, remains largely local and national, as it was before.