Is the EU fiscal rules reform going in the right direction?
Reviewing the European Commission’s proposal for reforming the Stability and Growth Pact.
On 9 November, the European Commission presented its long-awaited proposal for a reformed EU economic governance framework. The proposal intends to focus on medium-term risks to debt sustainability and to allow flexibility to boost growth and investments and move away from yearly micro-management of unobservable public finance variables. Maria Demertzis invites Jeromin Zettelmeyer, Grégory Claeys and Zsolt Darvas to share their views on the reform proposal.
Related content
What visions for Europe? Unpacking EU parties’ economic strategies
The EU elections are around the corner. What economic plans are the parties advocating for?
1982: the debt crisis that could have destroyed Western banking
What we can learn from four decades of financial turmoil and recovery
The EU needs a methodology for including reform impacts in fiscal trajectories
Such a methodology, and a governance mechanism for managing associated risks, must be in place before the new fiscal framework kickstarts in September
Incorporating the impact of social investments and reforms in the European Union’s new fiscal framework
This paper proposes an approach for quantifying the impact of public investments and reforms on debt sustainability