Matolcsy: The EU needs long-term sustainable solutions

English2020. aug. 19.GOVERNOR MATOLCSY100WORDS

Mariana Mazzucato put forward one possible approach to use the new 750-billion-euro worth of funds / FT, 9 August 2020/.

I agree with her “mission-oriented” policy approach. Indeed, green and digital transformations are badly needed for the EU. It might also ease the tensions between the members of the EU focusing on viable projects instead of fueling political skirmishes.

Nevertheless, in order to create long-term sustainable solutions for the EU, we must face all the other, rather uncomfortable issues of migration, demography, unemployment, the rift in the Eurozone, taxation, the US-China cold war 2.0, the future role of the UK and Russia in Europe, and so on. For all of them, we also need “mission-oriented” solutions. We cannot hedge the issue forever.

Governor Matolcsy, MNB, the Central Bank of Hungary

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