Financing post-pandemic recovery via EU borrowing has proved remarkably straightforward. So why keep it temporary?
Disappointment at the lack of fresh cash from European Union global connectivity strategy is short-sighted: Europe supports global development more than any other country in the world. Using existing funds more strategically is the right priority for now.
Testimony given to a Tweede Kamer der Staten-Generaal roundtable discussion on the future of the stability and growth pact.
The Next Generation EU programme is radically changing the way the EU finances itself and interacts with financial markets. This paper assesses the first design decisions made by the European Commission and the issuances that have taken place so far. It also outlines the potential risks and opportunities linked to this upgrading of the EU borrowing.
By and large, setting a new green golden rule would be a useful addition to the existing EU fiscal framework.
Proposal to set up a World Recovery Fund (WRF), aimed at addressing some of the key problems with the design of the DSSI and more generally the existing international financial architecture for dealing with debt problems in the developing world.
How can the European Union increase green public investment while consolidating budget deficits?
Increasing green public investment while consolidating deficits will be a central challenge of this decade. A green fiscal pact would address this tension, but difficult trade-offs remain.
European Union institutions and national fiscal authorities should incorporate climate risk in debt sustainability analysis.
The EU will become into a major issuer of safe assets in the coming years. How will this interact with the debt issuance of European sovereign debts?
Plans for spending European Union recovery funds submitted by the four largest EU countries reflect rather different priorities. So far, only Italy is interested in borrowing from the EU.
Why, despite the increase in public debt levels around the world have sovereign ratings been largely unaffected by the COVID-19 crisis?