While current instruments of EU economic policy coordination helped stave off a fullscale depression, the post-2007 global financial and economic crisis has revealed a number of weaknesses in the Stability and Growth Pact, the EU framework for fiscal surveillance and fiscal policy coordination....

How should the fiscal policy process of the Member States of the EU be designed? This question is presently the subject of lively discussion among policy-makers and economists alike. The debate has been fuelled by the recent controversy concerning the budgetary positions of Germany and France,...

Fiscal restraint looks inevitable in the Eurozone following the pandemic, especially if the fiscal rules are reinstated. How to match this with the need to finance the climate transition? Two possible routes are explored. One is the adoption of a ‘green golden rule’, with the structural...