Reform of Fiscal Rules – Lessons Learned?
Many EU Member States are still suffering from the austerity policies after the financial and economic crises of 2008/09. In the current COVID-19 crisis, the European Union is choosing a different path. The recovery plan NextGeneration EU focuses on stimulating the recovery instead of establishing a rigorous austerity policy. The approval of the recovery plan for Europe was a major breakthrough on the path to reforming the economic governance.
The European Union should grasp this as an opportunity for deep reform. The upcoming Economic Governance Review thus should aim at a better economic, social and environmental performance in line with the SDGs and the Green Deal. How much fiscal attention should be predetermined? Are investment exemptions sufficient for the social-ecological transformation needed? Should we broaden the decision-making, or narrow it down to technocratic advisory bodies?
Watch the recording
- Opening Remarks: Markus Marterbauer, Chief Economist, Austrian Chamber of Labour
- Keynote speaker: Achim Truger, German Council of Economic Experts
- Nacho Álvarez, Spanish Secretary of State for Social Rights
- Gilles Mourre, European Commission, DG ECFIN
- Evelyn Regner, Member of the European Parliament (S&D)
- Achim Truger, German Council of Economic Experts
Moderation: Beatriz Rios