Blog post: When Facts Change, Change the Pact

“When facts change, I change my mind,” John Maynard Keynes famously said. With long-term interest rates currently near zero, the European Union should reform its fiscal framework to allow member states to increase their debt-financed public investments.

Jean Pisani-Ferry reflects on the reform of the European Union’s Stability and Growth Pact in his latest column on Project Syndicate.

Read the full post.