The Fiscal Matters coalition published a joint statement on the outcomes of the trilogue negotiations on the revision of the EU fiscal rules (Economic Governance review).
In this statement, we voice strong concerns about the outcome of the trilogue, which does not constitute an adequate response to the challenges ahead. The revised rules keep focusing on achieving arbitrary debt and deficit-to-GDP ratios and will severely restrict Member States’ capacity to invest in a socially just transition to a more sustainable and inclusive future. It might even oblige some Member States to make significant and harmful expenditure cuts to follow the rules.
In the statement, we make several recommendations for action to the EU institutions:
- We ask the European Commission to publish concrete information about required cuts in debt & deficit for each Member State;
- We call on the European Parliament to take sufficient time to ensure an improved agreement;
- We ask for a revision of the debt sustainability (DSA) methodology that allows realistic and sustainable adjustment paths;
- We call for a dedicated and long-term EU public investment fund post-2026 to drive a socially just transition.
For more information, please see the joint statement.
