The EFB is an independent body mandated to advise the European Commission on the application of EU fiscal rules and the overall direction of fiscal policy.
On 21 May, Niels Thygesen, the Chair of the EFB met Executive Vice-President Dombrovskis to exchange views on the implications of the recent revision of the EU’s fiscal framework.
Higher long-term real interest rates, lower growth and higher debt present a challenge for fiscal trends and financial stability. Credibly and gradually rebuilding fiscal buffers is essential. Read our latest IMF blog, with
@TobiasAdrian1
and Vitor Gaspar.
📣 Happy to see that our paper on fiscal policy and economic scarring is forthcoming in the European Journal of Political Economy.
Joint work with the lovely Martin Larch (
@EFB_EU
) and Peter Claeys
The right fiscal policy response can mitigate scarring effects of major economic downturns. A comprehensive study co-authored by the Head of Secretariat of the EFB underscores the importance of public investment
FitchRatings’ latest piece on the EU’s redesigned fiscal rules draws on the compliance tracker of the EFB secretariat: Good to see our tool is spreading!!
In most EU countries, independent fiscal councils are children of crises. Neighbouring countries can learn from the mistakes of others and build robust economic governance frameworks. Very much looking forward to the
@WorldBank
event in Vienna:
📢Check out the new publication by
@cfp_pt
!
Delving into:
🔴Challenges posed by the existing fiscal rules
🔴Proposed reform of the EU economic governance framework
🔴Crucial role of IFIs
& more!
Read the full publication here:
Don’t get out the champagne yet.
👉Recent declines of government debt-to-GDP ratios are no cause for exuberance
👉 entrenched budgetary trends, if uncorrected, could still ruin things - especially in high debt EU members
@EFB_EU
@voxeu
@cepr_org
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