What's happening now?
The European Union is looking into reforming its economic governance. This will determine the European rules on spending and debt for Member States and the procedures it uses for when these rules are broken.
As a result of the pandemic, the usual rules are currently not being enforced. The European Commission introduced a “recovery and resilience facility”, to deal with the economic damage from the pandemic and invest into climate and digital transformation.
These extraordinary measures show us that the usual rules are no longer fit for purpose. We need new rules for a new world that better respond to the issues facing us now and in years to come.
Our Vision of Success
We want a new EU economic governance that:
Encourages Member States to make the necessary investment and spending for a green and just transition of the economy and society
Ensures tax and budget policy serve the environment and reduce inequality
Our activity to date
Fiscal Matters has actively shaped the debate on European fiscal policy since its inception in late 2020.
OPEN LETTER: A +170 signatures strong open letter sent to European Union leaders asking them to review EU economic governance. Signatories include civil society leaders, trade unions and economists
REACTION: A +140 signatures strong open letter arguing to stop the fetishisation of deficits, published in the Financial Times. Signatories include economists like Adam Tooze, Stephanie Kelton, Daniela Gabor and more
OPINION: Benoit Lallemand, the Secretary General of Finance Watch argues that Angela Merkel’s departure is an opportunity to ﬁx the EU, published in Open Democracy
EVENT: A Fiscal Matters week of debate on EU ﬁscal policy, with 22 online events attracting over 800 participants. High proﬁle speakers included Joseph Stiglitz, Marianna Mazzucato, Paschal Donohoe, Marco Buti and more
CONSULTATION: A broad range of stakeholders answer to the European Commission survey on the European economic governance review. This input will shape the Commission proposal, expected in Spring 2022. Read selected answers under updates.
STATEMENT: Over 270 NGOs, unions and academics from all 27 EU member states demand a fundamental reform of Europe's spending rules. Leading academic voices like Olivier Blanchard, Kate Raworth and Herman Wijfels are among the signatories.
About us & Why
We are FiscalMatters - a group of civil society organisations, think tanks and trade unions, dedicated to fostering an informed debate that shapes a more just and sustainable future for all Europeans.