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EU fiscal rules: reform considerations

Author

Listed:
  • Olga Francová

    (ESM)

  • Ermal Hitaj

    (ESM)

  • John Goossen

    (ESM)

  • Robert Kraemer

    (ESM)

  • Andreja Lenarčič

    (IMF)

  • Georgios Palaiodimos

    (Bank of Greece)

Abstract

This paper discusses the EU fiscal framework reform. It reviews the EU fiscal governance history and reforms, and identifies key challenges. It then takes stock of reform proposals made so far, and finally formulates a reform idea that reconciles the post-pandemic macroeconomic context with existing contributions by leading economists and institutions.

Suggested Citation

  • Olga Francová & Ermal Hitaj & John Goossen & Robert Kraemer & Andreja Lenarčič & Georgios Palaiodimos, 2021. "EU fiscal rules: reform considerations," Discussion Papers 17, European Stability Mechanism, revised 25 Oct 2021.
    • Handle: RePEc:stm:dpaper:17
    as

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    File URL: https://www.esm.europa.eu/sites/default/files/document/2021-10/ESMDP17.pdf
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    References listed on IDEAS

    as
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    Cited by:

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    2. Massimo Amato & Francesco Saraceno, 2022. "Squaring the circle: How to guarantee fiscal space and debt sustainability with a European Debt Agency," BAFFI CAREFIN Working Papers 22172, BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy.
    3. Jost, Thomas & Tödter, Karl-Heinz, 2021. "Reducing sovereign debt levels in the post-Covid Eurozone with a simple deficit rule," IMFS Working Paper Series 164, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS).
    4. Atanas Pekanov, 2022. "Europäische Wirtschaftspolitik 2021/22. Zwischen Konjunkturerholung und Unsicherheit," WIFO Monatsberichte (monthly reports), WIFO, vol. 95(3), pages 151-164, March.

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