Public investment has been low in recent years, resulting in shortcomings in infrastructure and other public assets capable of underpinning economic growth and competitiveness. Efforts at the EU level to establish a Sovereignty Fund intended to enhance competitiveness and to respond to the likes...

This paper reviews the main arguments underpinning the reform of the EU's fiscal framework, which has culminated in the adoption by the EU legislators of a revised set of rules for the European economic governance including the Stability and Growth Pact (SGP). It takes a chronological approach...

The debate on the reform of the European Union's fiscal rules, the Stability and Growth Pact, has largely focused on their design. This nearly exclusive focus has distracted attention from the equally, if not more, important aspects of implementation. The reform, completed in April 2024, left...