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Pier Carlo Padoan is a former Italian minister of finance.
Jun 1, 2019 says policymakers must somehow boost productivity and growth while consolidating public finances.
Some suggest that the Paris climate agreement’s target for limiting global warming can be achieved only by stopping economic expansion. But there is ample room to change the quality of growth and significantly reduce its environmental impact without condemning billions of people to lives of deprivation.
How can the eurozone get the fiscal stimulus it needs, and which European Central Bank President Christine Lagarde is urging, in the face of the refusal by some countries, starting with Germany, to run budget deficits? There is a good answer, but it doesn't involve attempting to cicumvent the intent of the ECB's statute.
