The Lisbon Council hosted the European launch of How Much Scope for Growth- and Equity-Friendly Budgetary Consolidation in OECD Countries?, a new OECD research study. Pier Carlo Padoan, deputy secretary-general and chief economist of the OECD, presented the new report, which proposes a structured approach to the selection of fiscal consolidation instruments that is consistent with growth, equity and global- rebalancing objectives.