Fiscal rules aside, can fiscal deficits in the euro-zone countries remain very high from an economic viewpoint?

The situation of the euro-zone countries’ public finances looks complicated: their structural fiscal deficits will be high in 2022, as will their public debt ratios, while there are numerous and legitimate needs for increased public spending (healthcare, education, industrial reshoring, innovation, energy transition, security, etc.). The very likely return of European fiscal rules will require fiscal deficit reduction. But putting these rules aside , can such high fiscal deficits be maintained in the euro zone? This would require both: The ECB to continue to control long-term interest rates; The additional public spending that is financed to have a positive effect on potential growth. S pending on the energy transition poses a problem: most of it involves replacing old capital with new capital without an increase in GDP. In principle, it should therefore be financed by tax and not by debt.