Rethinking fiscal policy
A look at the past, present and future of fiscal policy in the European Union with Chief economist of the European Stability Mechanism, Rolf Strauch.
The pandemic and subsequent downturn have seen EU countries deploy unprecedented fiscal support, while the EU as a whole complemented this with an architectural innovation in the form of the Next Generation EU fund. As European economies begin to recover, is it time to return to pre-pandemic fiscal rules or is it time to reform them? If yes, then what should be changed and how?