There was never any economic basis for the limits on government deficits and debt that the European Union adopted in 1992 and has maintained ever since. With huge new investments needed to meet the EU's climate goals, now is an ideal opportunity for an overhaul.
BERKELEY – The European Union is about to undergo a much-needed review of its fiscal status quo. Experts at the European Commission are considering how the EU’s fiscal rulebook should be revised, and Germany’s new government has quietly signaled a willingness to consider changes – though any modifications there will most likely be limited, given disagreements within the coalition and control of the finance ministry by the fiscally conservative Free Democrats.
BERKELEY – The European Union is about to undergo a much-needed review of its fiscal status quo. Experts at the European Commission are considering how the EU’s fiscal rulebook should be revised, and Germany’s new government has quietly signaled a willingness to consider changes – though any modifications there will most likely be limited, given disagreements within the coalition and control of the finance ministry by the fiscally conservative Free Democrats.