Macroeconomic policy and governance

There is no such thing as normality

Greece paid a high price for learning that it must reform and conform. The rest of the world will pay a much higher price for its unruly politics.

Charting Poland’s post-election path

What Poland’s election means for the country and for Europe.

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

What will it cost the European Union to pay its economic recovery debt?

Servicing the EU debt until 2058 seems feasible, despite increased borrowing costs, but member countries must make choices about budget funding

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.

The tyranny of EU treaties

It is an overdue question whether those agreements are still fit for purpose or if they must be changed.

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.

Assessing the State of the Union 2023

In this episode, we look at the 2023 State of the Union address delivered by Ursula von der Leyen, President of the European Commission.

European Union debt financing: leeway and barriers from a legal perspective

The paper investigates the legal feasibility of the EU borrowing on the capital market to finance European public goods.

Making sense of the European Commission’s fiscal governance reform plan

This Policy Brief offers proposals to enhance institutional self-commitment to implementation, with reputational consequences for non-implementation.