ECB’s Praet says it’s clear any politically acceptable EZ fiscal policy will be modest in size

ECB chief economist Praet out with scheduled speech 27 Oct
– pvt/public risk-sharing in Europe underdeveloped
– the key question for the economics profession is whether it is possible to remove the link between the stabilisation function and the redistributive function, allowing for a central budget of moderate size to have a meaningful macroeconomic stabilisation effect
Speech entitled