How should the euro zone respond to Germany’s and the Netherlands’ excess savings?

Germany and the Netherlands have massive excess savings over investment, which now translates to an overall savings surplus for the euro zone. What should the response be to this situation? Not responding leads to a share of the euro zone’s savings being lent to the rest of the world, which reduces the euro zone’s growth in the short and long term; Responding by keeping real interest rates abnormally low, which is the current path chosen, comes with risks: possible asset price bubbles, inefficient investments; massive redistributive effects; Responding with a more expansionary fiscal policy in the euro zone outside Germany and the Netherlands contravenes the European rules, but may be efficient if the fiscal deficits correspond to an increase in efficient public spending or cuts in taxes that hamper employment and investment. Moreover, this response would avoid having absurdly low real interest rates.