As Johann Wolfgang von Goethe once said, “In the realm of ideas, everything depends on enthusiasm; in the real world all rests on perseverance”.123 1 See “Public investment in Europe”, Economic Bulletin, Issue 2, ECB, 2016. 2 See “Public Investment for the Recovery”, Fiscal Monitor, Chapter 2, IMF, October 2020.
3 3/4  BIS central bankers' speeches  3 Asked whether the EU should put in place an economic plan to help all EU Member States recover, 88% of EU  respondents said they agreed with the statement. See “Standard Eurobarometer 93”, Survey requested and coordinated by the European Commission, Directorate-General for Communication, October 2020. 4/4  BIS central bankers' speeches