It is time to move from stimulus to fixing structural problems

We look at the situations of the euro zone and France. In the second half of 2021 and in 2022, growth is likely to be strong, thanks to the upturn in earnings and investment, the recovery in global trade, the consumption of part of the accumulated savings, etc. The economic policy focus must therefore change: it is no longer necessary to reflect on jump-starting the economy (income distribution to households, VAT cuts, etc.) and it is time to switch to a reflection on the economy’s structural problems and how to solve them. These include, for example: Skills shortages and recruitment difficulties; Poverty and wealth inequality; The delay in corporate modernisation; The challenges posed by the energy transition (where will the equipment be produced, how will jobs be transformed, etc.); The prevention of future crises (health, financial, climate, cybersecurity, etc.).