The President's choice was clearly motivated by sound budgetary policy, not partisan politics.
This means that countries whose debt exceeds more than 100 per cent of GDP should follow different budgetary policy rules from countries with sustainable debt levels.
Germany, the EU's biggest country, has both the heft and the money to loosen budgetary policy. Yet the government's recent boost, amounting to just 0.25% of GDP, hardly suggested urgency.
