How can growth be restored in the euro zone?

There are many threats to euro-zone growth; both on the supply side and on the demand side: Capital destruction (due to business sectors facing permanent problems, declining investment, the rapid energy transition); Rising structural unemployment (due to the problematic shift in the sectoral structure of jobs); Precautionary savings, both among households and companies; Offshoring by companies seeking to reduce their costs. The essential response to these threats is first to use the euro zone’s excess private savings to finance additional corporate and government investment, and even investment in housing and housing renovation; second, a massive effort to improve the euro zone’s attractiveness (taxation, skills, etc.).