A Green Light for Public Investment
Europe urgently needs a fiscal-stimulus package aimed at bringing about much-needed economic transformation. But while the economic conditions for such an approach are favorable, the political conditions are less so, owing to the German and Dutch governments' misguided insistence on running large budget surpluses.
BERLIN/THE HAGUE – The eurozone faces immense economic challenges. Germany and the Netherlands – which together account for 35% of the monetary union’s GDP and have ample fiscal space – should take the lead in tackling them.