Report
What economic policy leeway is there in the euro zone?
Growth is slowing in the euro zone and public opinion is demanding faster growth in purchasing power: euro - zone governments may be tempted to put in place demand-stimulus policies. But where is there any economic policy leeway to boost activity in the euro zone? Certainly not in monetary policy; In f iscal policy in the few countries where the public debt ratio is low and fiscal solvency is ensured: Germany, the Netherlands, Finland, Austria; In w age policy in the countries where labour cost s are low given the level of product sophistication, and where market shares are rising: Spain, the Netherlands, Greece. In particular, we note that France and Italy (and also Belgium and Portugal ) have no economic policy leeway . This makes it pointless to discuss stimulus in these countries.
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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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