Bloomberg News

Rehn Rejects ‘False’ Austerity-Stimulus Choice

May 12, 2012

The European Union must implement measures both to consolidate public finance and boost economic growth, the bloc’s Economic and Monetary commissioner Olli Rehn said at a conference today in the Estonian capital, Tallinn.

“The debate on consolidation versus growth is a false debate,” Rehn said. “We need to stay on course with regards to fiscal consolidation and we need actions to boost growth.”

EU member states need to pursue structural reforms and lure more public and private investment to overcome the crisis, Rehn said.

To contact the reporter on this story: Ott Ummelas in Tallinn at oummelas@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net


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