The future of the stability and growth pact
Testimony given to a Tweede Kamer der Staten-Generaal roundtable discussion on the future of the stability and growth pact.
On 24 November 2021, Guntram Wolff ‘A green fiscal pact: climate investment in times of budget consolidation‘ to a hybrid roundtable discussion on the future of the stability and growth pact (SGP) in the House of Representatives of the Netherlands. This part of the discussion took place with Rolf Strauch, Chief Economist and Management Board Member of the European Stability Mechanism also giving testimony.
In this Bruegel policy contribution, Zsolt Darvas and Guntram Wolff outline how increasing green public investment while consolidating deficits will be a central challenge of this decade and why a green fiscal pact would address this tension, notwithstanding difficult trade-offs.