The European Commission today (10 April) published the findings of its latest review of economic imbalances in the Union.

According to Olli Rehn, the EU’s economic and monetary affairs commissioner, action at EU level is responsible for rebalancing the European economy. “Our transformed economic governance enables us to address macroeconomic imbalances, pre-emptively and create the foundations for sustainable growth,” he said.

In other words, economic policy is dicta...

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