A Return to “Normal”? Fiscal Futures in Post-Pandemic Europe

The pandemic and the associated lockdowns produced the deepest and most disruptive downturn in the EU since World War II. This prompted the Council to lift all constraints on debt and deficits embedded in the European fiscal framework. Now that a post-pandemic Europe is on the rise, we explore what should be her fiscal future: a return to “normal” or a leap to something new?

The European fiscal framework has been set up to monitor and coordinate fiscal policies in the pursuit of sustainable public finances and macroeconomic stability in the Union. Returning to pre-corona business-as-usual could take several years – depending on how long the disruptions last and what scars they will leave. Moreover, the EU could grasp this moment as a unique opportunity to address some of the fiscal framework’s long-standing weaknesses.

Against this backdrop, this online roundtable will feature a discussion between:

• Roel Beetsma (Amsterdam School of Economics, Member of the European Fiscal Board)
• Marco Buti (Head of Cabinet, European Commission)
• Jean Pisani-Ferry (Bruegel, EUI, Peterson Institute)

Followed by an open discussion with the audience. The roundtable will be moderated by Paul van den Noord (ASE and ACES).