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Für mehr Sicherheit: Warum und wie die EU die Fiskalregeln (noch einmal) reformieren sollte

Author

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  • Guttenberg Lucas
  • Redeker Nils

Abstract

Although the new EU fiscal rules improve the macroeconomic logic and differentiation, they offer very little leeway for urgently needed, debt-financed defence spending. However, the EU Commission‘s proposal to solve this via flexible escape clauses undermines the credibility of the rules. A new reform is necessary: defence spending above 2% of GDP should be exempted for a limited period of time and growth-promoting investments in countries with moderate levels of debt should be facilitated. This is the only way to reconcile security, fiscal stability and regulatory compliance in the long term.

Suggested Citation

  • Guttenberg Lucas & Redeker Nils, 2025. "Für mehr Sicherheit: Warum und wie die EU die Fiskalregeln (noch einmal) reformieren sollte," Wirtschaftsdienst, Sciendo, vol. 105(4), pages 243-248.
    • Handle: RePEc:vrs:wirtsc:v:105:y:2025:i:4:p:243-248:n:1011
    DOI: 10.2478/wd-2025-0067
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    More about this item

    JEL classification:

    • H53 - Public Economics - - National Government Expenditures and Related Policies - - - Government Expenditures and Welfare Programs
    • H56 - Public Economics - - National Government Expenditures and Related Policies - - - National Security and War

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