Reforming EU macroeconomic governance

The European Commission is expected to soon publish orientations on the reform of the Stability and Growth Pact, and on 22 November, the Autumn package in the framework of the European Semester.Fiscal rules are currently suspended from the onset of the pandemic until the end of 2023. Reinstating the old framework would trigger significant cuts in public spending for many Member States, impeding the recovery, eroding social rights and preventing the Union from realising its green and geopolitical ambitions.Like a growing number of experts, the Greens/EFA consider that the European Union’s economic governance framework requires a major overhaul.Read our position on the EU fiscal rules framework and proposals to reform the EU economic governance framework with the aim to promote long-term sustainability and addressing poverty and inequalities, while safeguarding short-term economic stabilisation.