CHAPTER 9

The Growth Strategy

Until now, we have seen the response to the crisis from two main fronts. First, the emergency measures put in place to foster financial stability and avoid the collapse of the economy such as the support provided to financial markets and countries under stress. And second, a series of measures aimed at fixing the flaws surfaced by the crisis and rebuilding the confidence such as the regulatory reform agenda or the enhanced economic governance. All these measures can be seen as preconditions for fostering growth; however, they are not sufficient to activate the economy. After all, simply repairing a wrecked car is not enough to get it running again when the vehicle lacks petrol and the engine is yet to be turned on. ...

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