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. […]
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 […]
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 […]
Following the outbreak of the pandemic, the EU finds itself at a historic juncture. The adoption of an ambitious recovery instrument offers a golden opportunity to go beyond ‘business as usual’ and forge a new social contract. Putting the public interest at the heart of the recovery strategy can prove a game-changer for progressive politics. […]
The 2020 coronavirus crisis has pushed the European Union to a critical level of innovation regarding its fiscal capacity. The dogma of keeping the EU budget at around one per cent of the Gross National Income (GNI) and balancing it every year evaporated within a space of a few months. Notwithstanding some initial hesitation, the […]
The last European Council’s negotiations on the next MFF for 2021-2028 were a big disappointment.