Migeru:
In addition, a less loose fiscal policy in 'good times' would have cooled down the economies and likely prevented certain epic asset bubbles from growing so much.
But the economy as a whole wasn't really overheating before the crash. Wait this is important. Someone is wrong on the Internet.
Not really that important. We're only talking in these terms because of the Growth and Stability (suicide) Pact. The brainless should not be in banking -- Willem Buiter
