As fears of a recession make fiscal policy ever more relevant, we need to discuss reforming economic governance rules. Many of the Commission’s good intentions fail to achieve what they set out, leaving us with a fiscal architecture that is pro-cyclical and unreliable, hindering the green and digital transitions and economic growth. After three years […]
EU fiscal rules
The EU’s current reform of economic policy coordination rules risks worsening rather than improving its democratic deficit. However, the proposals could still be democratised, and this would serve the EU both politically and economically. When the French government raises the retirement age or when a new anti-child poverty allowance is cut down in Germany, EU […]
The economic governance reform is very much a political issue. The EU Commission has brought forward a package for reforming the EU fiscal rules. Behind its technicalities, which may be difficult to navigate for the uninitiated, lie choices that are political by nature: what societal objectives to prioritise? Who takes the decisions? The proposals made […]