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Résumé : Introduction Catherine Mathieu and Henri Sterdyniak Is the “Debt Brake” Behind Germany's Successful Fiscal Consolidation? Katja Rietzler and Achim Truger New Output Gap Estimates for the Euro Area and Elsewhere Heikki Oksanen Euro Area Macroeconomics-Where Do We Stand 20 Years Later? Catherine Mathieu and Henri Sterdyniak Fiscal Implications of the ECB's Public Sector Purchase Programme Harmen Lehment Bank Stability and the European Deposit Insurance Scheme Ilkka Kiema and Esa Jokivuolle