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The right response to such downturns includes some easing of fiscal policy.
With any significant easing of fiscal policy likely to breach the terms of the stability pact, which restricts budget deficits to 3percentnt of GDP, Mr Dumas says that the pact should be sidelined for as long as growth remains below potential and inflation is under 2percentnt".
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Quite aside from the results of any easing of fiscal policies among the eurozone member states, there are signs of a spontaneous upswing just taking hold.
We're going to witness an easing of fiscal policies, and, as a result, monetary policy will be maybe a little bit, maybe quite a bit, tighter.
"But I do think that the likelihood of fiscal policy easing is rising globally".
"In our view, both consumption and investment are bound to pick up in Q2 and Q3 on fast implementation of fiscal policy and much eased monetary policy," they said in a report.
A sensible fiscal regime would allow scope for additional, discretionary loosening of fiscal policy.
And then there is the issue of fiscal policy.
Both demand aggressive action in the form of fiscal policy.
The controversy lay mainly between the advocates of "monetary policy" and the advocates of "fiscal policy".
One monetarist policy conclusion is the rejection of fiscal policy in favour of a "monetary rule".
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com