Europe in Crisis

What can be done in Europe to achieve an upwards revision of EU growth forecasts and to restore Europe’s competitiveness? According to Werner Hoyer, President of the European Investment Bank, the focus should be on the creation of favourable framework conditions, as well as the ability to innovate and an adequate financing offering for investments that make economic sense. The investment package for Europe announced in November 2014 is part of a response to these challenges. For Dirk Niepelt, Studienzentrum Gerzensee and University of Bern, this is also a question of sensibly assigning responsibility. Demands for “more Europe”, are justified in terms of a trans-border internalisation of important external effects, but unjustified if they contradict the subsidiarity principle.