New Deal for Europe

Slí Eile: An extremely lucid and timely contribution by Miguel Carrion from at Eurointelligence here. He writes:

The "New Deal for Europe" would begin to address the trade imbalances by funding productive investment in the deficit countries through the European Investment Bank, a healthier way of recycling internal trade surpluses than fueling asset price bubbles. There would be a true "structural fund" spent on proactively improving the productive structure of the chronically underinvested areas in the eurozone. This is a way out of the crisis which will deliver the "growth and jobs" that the European Union has been promising with great fanfare for over a decade, rather than the biting austerity currently on offer, and which may last "for decades".