The European Commission published today [5^th February 2020] its communication laying out its plans regarding the future review of the EU Economic Governance. Kicking off a consultation process that will last until the end of the year, this communication takes stock of the achievements and shortcomings of the current EU Economic Governance framework.

Reacting to this first communication of on the topic, Valeria Ronzitti, CEEP General Secretary, said:

“For years now, CEEP has been a vocal promoter of a review of the Stability and Growth Pact and of the overall EU economic governance. We therefore welcome today’s launch of the consultation process by the European Commission. Today’s announcement should kick-off a broad and constructive conversation on how we could, together and in full transparency, improve the rules governing the EU economic governance.”

“The EU is faced with numerous challenges, such as supporting the digital transition or addressing climate change and its consequences. CEEP believes that adapting our economic governance with a more flexible approach is now more than needed, and that Member States should be further encouraged to invest and to adopt growth-friendly fiscal policy. More flexible fiscal rules should be one of main tools to use in order to reach that goal.”

“With its members, CEEP will actively contribute to the discussion, and calls the European Commission to keep his promises and deliver on this file. This consultation will be an important barometer to judge the commitment of this European Commission to the other institutions, social partners and other stakeholders.”