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As we feel the limits of our planet, governments must mobilise their regulatory toolkit and all the public resources required for the sustainable transition, to ensure economic resilience and the prosperity of future generations. This means upgrading infrastructure, health and educational systems and supporting the citizens affected by the economic transition.

Public deficits will likely increase, but paradoxically, they are indispensable for public debt sustainability in the long run, and financial markets know it. Public money is required to crowd in private investment and a failure to invest will result in much bigger future fiscal imbalances due to unmitigated climate change and loss of economic and social resilience.

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5 PUBLICATIONS

Consultation response

Maastricht 2.0: Updating EU economic governance for the challenges ahead

Maastricht 2.0: Updating EU economic governance for the challenges ahead
Report

Fiscal Mythology Unmasked

Debunking eight tales about European public debt and fiscal rules. Europe faces serious environmental, economic and social challenges that require a rethink on public intervention. Not free to do as they wish, European governments devise fiscal and socio-economic policies constrained by a self-imposed maze of economic governance rules. Those rules are built on a series of debatable conceptions about public debt and the role played by the state.
Policy brief

One Framework to Rule Them All

The European fiscal framework in five questions. A helpful primer that explores the set of rules within the European fiscal framework that constrain EU Member States’ fiscal policy.
Factsheet

Navigating the Maze

A Finance Watch primer on how to reform European economic governance. European Member States remain constrained by European economic governance – a maze of rules impacting their fiscal and socio-economic policies. Highly intertwined with an annual cycle of coordination known as the European Semester, Europe’s “three pillars” governance system aims to enforce fiscal discipline, ensure macroeconomic surveillance, and facilitate socio-economic coordination.
Open letter

Reshaping the European Fiscal Framework – English language letter

An open letter sent in February to European Union leaders asking them to review EU economic governance.
Reshaping the European Fiscal Framework – English language letter

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