That Europe is incapable of doing anything bold is a different topic. You don't have to tell me how fundamentally screwed we are because of the consensus issue. But Europe could, without introducing capital controls, implement something. The US did, there is no fundamental reason why Europe could not either.
If something is hypothetically possible but practically impossible, then the mental exercise is a waste of time, and distracts from thinking about an actual solution.
For example, Trump could impeached and removed from office, but that isn't happening. So what's the solution?
I exclusively responded to a comment about capital controls, which are even less likely. I'm not particularly interested in a discussion about what politicans might or might not do.
I think if people were forced to invest their pensions in shitty EU stocks there would be push back. Also moving public sector pensions into EU stocks won't deliver the growth required, they are already unsustainable.
But there's a chicken and egg effect here in that the stock prices are low because of low investment and the stocks are bad because the stock prices are low.
For instance, Meta has basically doubled in price from a few years back but their business is basically identical. Doesn't seem very efficient to me, at least.
It's just a question of political will