Fiscal Policy: a New Era? Opening Event of the #FiscalMatters Week of Debate

This pandemic is one of the greatest health, social, and economic shocks of our lifetimes. The policy agenda set in the emergency and recovery phase this year will have profound socioeconomic effects, determining the shape of our economy long after the pandemic is over. Policies need to be consistent with the Green Deal and a socially just transition and build a well-being economy that works for people and the planet. Massive, well-designed investments are needed over the long run.

The activation of the General Escape Clause of the Stability and Growth Pact by the European Commission was a necessary response to the crisis. Growing doubts over unfit fiscal rules were fuelling a debate about a wholesale revision, already before the pandemic. Having learned the lessons from the financial crisis in 2007/8, agreement exists that we must not repeat the same mistakes.

What can Europe do instead? Our speakers are invited to discuss potential ways forward.

This event is organised by the New Economics Foundation, Finance Watch and the European Environmental Bureau