European semester and fiscal rules

Pitfalls to avoid as the EU ramps up defence investment

European Union security requires both investment in defence and decisive steps in innovation and research

The problem of missing European public goods from the ReArm Europe plan

Focusing on defence financing and delivery at national level risks fiscally weaker countries not increasing spending or running up unsustainable debts

The European Union’s new fiscal framework: a good start, but challenges loom

Should the European Union’s fiscal rules bend to accommodate the defence transition?

EU debt rules should not be changed to exempt increased defence spending, but some flexibility could be considered

The implications of the European Union’s new fiscal rules

This policy brief summarises the main features of the new European Union fiscal framework

Assessing the Ecofin compromise on fiscal rules reform

The compromise reached by the Ecofin Council is imperfect. But it is still a big step forward.

Bringing the reform of European Union fiscal rules to a successful close

EU fiscal rules must not unnecessarily restrict green investment.

The benefits of bringing the Western Balkans into the European Semester

Integrating the Western Balkan countries into the European Union’s European Semester process is both feasible and desirable.

Greening EU fiscal rules

How to achieve debt sustainability and environmental sustainability in the bloc?

Are the emerging EU fiscal rules green enough?

To unblock fiscal rule reform, the EU should reinstate its excessive deficit procedure

Reapplying the excessive deficit procedure could create space for European Union countries to decide on longer-term rule change

How should the Commission's fiscal framework proposal be improved?

Evaluating the European Commission’s fiscal governance proposal

Focusing on the fiscal adjustment that the first regulation would require of countries with debt above the treaty benchmarks.

A quantitative evaluation of the European Commission’s fiscal governance proposal

This paper focuses on the fiscal adjustment that the first regulation would require of countries with debt above the treaty benchmarks.

The EU’s long-term fiscal challenges

The EU faces a fiscal dilemma in the long-term: fiscal space has likely declined, but public investment needs have gone up.

How will member states react to the European Commission's proposals for fiscal governance reform?