The Recovery and Resilience Facility (RRF), which was adopted to support economic recovery from the COVID-19 crisis, represents the first large-scale EU-wide investment initiative, including decarbonisation goals. Yet temporary RRF spending will not be sufficient to meet the climate targets in...

As the Draghi report shows, Europe needs to undergo a fundamental transformation in order to escape its 'mid-technology trap'. Mainstream economic theory offers little guidance on how to achieve this. A critical review of neoclassical growth theory shows that in these models, growth and...

It can be argued that the rich world has long reached the social limits to growth, which were presciently seen by key figures in post-Keynesian economics. Reducing working hours, therefore, may have a greater potential to increase people's life satisfaction than more economic growth. One of the...

What has led to the growing disillusionment with the European project? What have we learned from the process of Europeanisation, and can these lessons guide us in the present? To answer these questions, the article offers a long-term view of the diverging trajectories of Central and Peripheral...

The article reviews the latest version of the proposal for a new Stability and Growth Pact of the European Union, as accepted by the European Parliament in April 2024. After summarising the main changes, the macroeconomic evaluation attempts to gauge whether the main goal of the Pact - reduction...

The reform of the European fiscal rules came into force on 30 April 2024. The new rules, like the former ones, impose a depressive bias on domestic fiscal policies, leaving Member States' no fiscal room for manoeuvre. At the same time, the European Pillar of Social Rights sets ambitious targets...

The article reviews the latest version of the proposal for a new Stability and Growth Pact of the European Union, as accepted by the European Parliament in April 2024. After summarising the main changes, the macroeconomic evaluation attempts to gauge whether the main goal of the Pact –...

The Recovery and Resilience Facility (RRF), which was adopted to support economic recovery from the COVID-19 crisis, represents the first large-scale EU-wide investment initiative, including decarbonisation goals. Yet temporary RRF spending will not be sufficient to meet the climate targets in...

The reform of the European fiscal rules came into force on 30 April 2024. The new rules, like the former ones, impose a depressive bias on domestic fiscal policies, leaving Member States' no fiscal room for manoeuvre. At the same time, the European Pillar of Social Rights sets ambitious targets...