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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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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.

10 Principles for a Sustainable Recovery

On 2 October 2020, Finance Watch published a briefing paper to help legislators strengthen the proposed Recovery and Resilience Facility (RRF), which makes up the core of the EU’s EUR 750bn Next Generation EU (NGEU) plan.
Policy brief

Policy brief: Debt sustainability and a sustainable Covid recovery

Overcoming the dilemma between debt and environmental sustainability in the discussions over a post Covid-19 recovery package. As EU heads of state and government discuss a Covid recovery package, Finance Watch publishes a briefing note calling for a coherent economic approach that promotes a green recovery and avoids budget orthodoxies that could be self-defeating in today’s circumstances.

Speech to ECB on “Financial integration and stability”

Speech at European Central Bank (ECB) conference on Financial Integration and Stability. Press release 26 April 2012
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