Assessing the EU’s fiscal architecture: a presentation by the European Fiscal Board
This event will discuss the 2019 Fiscal Stance, which assesses the current macroeconomic situation and offers advice for the future.
Speakers
Maria Demertzis
Leader, ESF, The Conference Board Europe
Niels Thygesen
Chairman, European Fiscal Board,
VIDEO AND AUDIO RECORDING
Event materials
Report:
On Monday 18 June, published its . The report provides an assessment of the macroeconomic situation and outlook in the euro area and offers independent advice on the general orientation of fiscal policy in the single currency area. It also includes a discussion on how to improve the fiscal architecture of the Economic and Monetary Union.
The report concludes that the current economic outlook offers an opportunity to rebuild fiscal buffers. It argues that lest we repeat the mistakes of the past and rob ourselves of room to manoeuvre when the next crisis hits, this is the time to move towards a somewhat restrictive orientation of fiscal policy in the euro area.
The report also suggests that the economic and political feasibility of a meaningful joint stabilisation function will crucially hinge on whether, in parallel, progress is made with risk reduction, notably by making the EU fiscal rules simpler and stronger.
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