According to Wieland, a common currency, combined with national fiscal policies and very different approaches in the individual member states, is still the greatest challenge facing the single currency union. In the interview with Prof. Norbert Berthold, he said that each country must ensure that its public finances remain sustainable. He warned against excessive debt levels. "In good phases, you have to consolidate in order to create room for future crises. France has missed that."
To curb populist tendencies, Wieland advises focusing on growth. "The distribution battle will get worse and worse if we only think in terms of zero-sum games." Politicians must ensure transparency and credibility and at the same time communicate that an influx of workers is unavoidable in view of demographic trends. "We need to create space for new developments, innovations and talent to ensure more growth," said Wieland. In doing so, he called for a pragmatic approach and to be guided by role models. "We can also learn from other places in Europe where things are implemented more quickly".
Podcast "Wirtschaftliche Freiheit": Populismus in Europa trendet