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Panetta: Public investment has seen a marked decline in Europe. Net public investment in the euro area during the period 2011-19 was the lowest of the advanced economies, with the exception of Japan
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Panetta: Public investment has seen a marked decline in Europe. Net public investment in the euro area during the period 2011-19 was the lowest of the advanced economies, with the exception of Japan
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Panetta, #ECB: «Euro area governments invested around €500 billion less in the 2011-19 period compared with the 2000-09 pre-crisis period. Net public investment in the euro area during the 2011-19 period was the lowest of the advanced economies, with the exception of Japan.»
https://www.ecb.europa.eu/press/key/date/2022/html/ecb.sp221111~9dfd501542.en.html
The #EU wasted a decade on senseless #austerity, leading to a #ClimateCrisis. Now much bigger investments are needed to catch up.
@ecb