On Friday, 1st of March, at the sidelines of Delphi Economic Forum IV, economia Publishing asked the Deputy Director of Bruegel Institute, Maria Demertzis, about the course of the economic policy in Eurozone.
I think that economic policy in the Eurozone is a broad issue, there are no big winners or big losers, we are all in this together. I believe that macroeconomic stabilization must happen in a coordinated fashion. It is true that the one big mistake in the Eurozone is that fiscal policy has been pro-cyclical, when it actually should have been counter-cyclical. This is the thing we need to fix for the new business cycle, as we are about to enter a new recession. I believe it is important to be able to use all the tools, and this tool is a big one. The mistakes of the past –in terms of the design of fiscal policy- need to be reckoned with and we need to align macroeconomic policies with the challenges of the future.
The complete interview will be published on Business File's April edition.