Sound Keynesian: Eurozone and Policy

sound keynesian: After the 2008 financial crisis and subsequent euro crisis, monetary policy played a key role in stabilizing and reviving the eurozone, according to Global Times China. It took pragmatism, creativity, and political flair on the part of European Central Bank President Mario Draghi to accomplish this feat. The eurozone has now reached this stage. But while monetary policy hasn't quite run out of fuel, it cannot be expected to serve the same role again. This is an urgent problem that cannot be solved by any one country alone; it demands a concerted eurozone response. By contrast, fiscal policy, the other key component of sound Keynesian macroeconomic management, has been underused as a cyclical tool, with the result that eurozone output still is not at its potential level. (news.financializer.com). As reported in the news.