We showed previously that it is not possible to hope for a reduction in unemployment in Europe, even following a hypothetical international cycle of expansion, without instituting structural reforms. The inertial outlook is characterized by low growth, high unemployment, and noncompliance with the parameters of the Stability Pact. This would happen even amid an international economic cycle that is supposed to tend toward a steady phase of recovery in the years following the strong slowdown of the two years 2001–2002. As we’ll see herewith, if the international cycle were to instead extend the slowdown phase that was seen throughout 2002 over a longer time, the inertial prospects would look even worse. Predicting the obtainable results on the basis of this even more negative hypothesis, it is clear straightaway that in this possible eventuality, a structural reform policy would not only be necessary and more urgent, but, in relative terms, would have even more positive results on the economy.
Weitere Kapitel dieses Buchs durch Wischen aufrufen
Bitte loggen Sie sich ein, um Zugang zu diesem Inhalt zu erhalten
Sie möchten Zugang zu diesem Inhalt erhalten? Dann informieren Sie sich jetzt über unsere Produkte:
- Lower Taxes, Lower Spending, Higher Employment
- Palgrave Macmillan UK
Neuer Inhalt/© Stellmach, Neuer Inhalt/© Maturus, Pluta Logo/© Pluta