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Economic policy makers in the euro area face a more and more difficult task in a challenging environment. The economic outlook is dampened, global trade growth continues to slow down and uncertainty remains high. Monetary policy is restrained by the zero lower bound and fiscal policy is limited by already high public debt. While there is a single monetary policy for the euro area, fiscal policy is still uncoordinated. In the short, fiscal stimulus is needed, but in the long term debt drags down economic growth. In this workshop we will explore possible ways out of this stalemate. This session will be chaired by Klaus Günter Deutsch (Head of Department 'Research, Industrial and Economic Policy', BDI).