The Peterson Institute for International Economics (PIIE) and the Italian Presidency of the EU Council hosted an event on "Restoring Sustainable Growth and Job Creation in Europe" on December 18, 2014, to discuss ambitious new policies to solve the persistent economic stagnation in Europe and in the euro area in particular. Jacob Funk Kirkegaard, PIIE, chaired the first panel, "Calibrating the Macroeconomic Response Europe Needs Now." Panelists included Fabrizio Balassone, Bank of Italy; Jörg Decressin, International Monetary Fund; Paolo Mauro, PIIE, and Angel Ubide, PIIE and D.E. Shaw & Co. For more information, visit: www.piie.com/events/event_detail.cfm?EventID=366