Mateusz Szczurek, 05 September 2014

The ‘lost decade’ is not a scenario for the EU, it’s the baseline forecast. In this column, Polish Finance Minister Mateusz Szczurek calls for an EU-wide public investment programme of 5.5% of GDP to overcome the constraints behind Europe’s ‘secular stagnation’. He calculates that €700 billion of capital expenditures could close the output gap in the short term while increasing long-term productivity growth. Funded by EU members and private leverage, it could operate as a special-purpose vehicle under the EIB. 

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