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The State of the Union – the two sides of a speech

The qualitative leap which was introduced in the European project in the wake of the Covid-19 crisis has brought higher levels of solidarity and cohesion. But there is still a long way to go. The speech of the president of the European Commission has outlined a few further steps, but many more need to be […]

European fiscal rules: reform urgently needed

The EU’s fiscal rules are currently deactivated due to the Covid-19 crisis. However, returning to the pre-Corona rules would be counterproductive. The first priority of reform efforts should be to ensure that applying the rules will not deepen economic crises and hold back recovery. The second priority should be to allow for more public investment. […]

Speeding up the reform of EU fiscal rules – back to work

The work on revising the fiscal rules of the European Union had started long before Covid-19. The global pandemic had put the work on hold, for good reasons. Now that the EU debt levels have risen to new highs the past year, there is a strong need to speed up the process to ensure the […]

Changing the debt rule would miss the point

Already before the pandemic, it was clear that the economic governance framework of the European Union was unfit to drive long-term prosperity and that it was particularly ill-equipped to sustain the economy in times of recession. The point however is that moving towards a better post-pandemic economic framework is not only a matter of fixing […]