Report
The euro zone’s fiscal policy could safely be more expansionary if some conditions are met
The fiscal deficit in the euro zone could be increased by at least 1 percentage point of GDP: Without jeopardising the euro zone’s fiscal solvency, as interest rates are likely to remain very low; Without jeopardising its external solvency, as it currently has a significant external surplus; By increasing its potential growth if its savings surplus is used to finance useful public investments and not the US fiscal deficit, which should "reassure" Germany.
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Natixis
Based across the world’s leading financial centers, Natixis CIB Research offers an integrated view of the markets. The team provides support to inform Natixis clients’ investment and hedging decisions across all asset classes.
Patrick Artus
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