Towards a revision of the Stability and Growth Pact

Alberto Majocchi () and Olimpia Fontana
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Alberto Majocchi: Professor Emeritus of Public Finance at the University of Pavia

No 49, Policy Papers from Fondazione Centro Studi sul Federalismo

Abstract: After the pandemic, and the launch of NextGenerationEU (NGEU), a revision of the fiscal rules of the Stability and Growth Pact (SGP) and the Fiscal Compact is a necessity. The situation in the Union has changed dramatically, with the application of the general escape clause, and the financing of the NGEU through the issuance of €750 bn worth of bonds onto the market, notwithstanding that these are extraordinary and time-limited measures. [...] Paper prepared for the “Public debate on the review of the EU economic governance†launched by the European Commission.[...]

Keywords: Next Generation Eu; fiscal rules; Fiscal compact; European Commission (search for similar items in EconPapers)
JEL-codes: E43 E58 F33 F38 F41 F42 G15 (search for similar items in EconPapers)
Pages: 7 pages
Date: 2022-01
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