The new rules stipulate that a state’s debt must not go beyond 60% of GDP and its public deficit must stay below 3%
Countries with debt at over 90% of GDP will be required to reduce it by 1% per year on average and by 0.5% when it is between 60 and 90%.
Tbx for sharing MMT economics, sounds reasonable enough. I’m no economic expert btw ;)
For sure I agree that in these time, major Investments are the only reasonable way forward, especially now. And, like you said, it’s now or never.
Add NB: The viewpoint of more domestic spending is also adhered by Mario Draghi, as seen per his speech recently. (Link Speech multilingual )
At the same time, as long as we remain critical to these gvement expenditures, thus procurement, methods and goals, and watch out for corruption, mismanagement, incorrect allocations etc, we should be ok.
Besides our own immediate motives, we don’t live in an isolated world; problem being that in our strategic choices as EU & memberstates we must consider the times & geopolitical tides. We must consider the actions of surrounding superpowers ( superstates and superconglomerates) ; which aren’t in free-trade; are being creative by falsifying economic data, or stealing IP, have been influencing the market malevolently; are extremely subsidising their own products, but issuing tariffs to imports. Also, unlike the US ,which can issue extra" free "money, we as EU cannot. I surely hope, that the EU guidelines, offer more choices and leeway then the old ones. For example, there’s been the internal discussion of issuing EU bonds for specific goals. They are establishing and expanding funds, for future investments. How that will workout as to membership loan/GDP ratio, depends on then chosen configuration, I reckon.