Wednesday, February 21, 2024, at 14:00-15:30 Vienna time (CET)
Zsolt Darvas, Senior Fellow, Bruegel and Corvinus University of Budapest
Markus Eller, Senior Economist, Joint Vienna Institute
The European Union’s fiscal rules are undergoing a major overhaul within the ongoing economic governance review. Following the agreement of the Economic and Financial Affairs Council (ECOFIN) in December 2023 and the European Parliament’s vote on its position in January 2024, a trilogue between the European Parliament, the Council, and the European Commission is ongoing to reach an agreement. The ECOFIN’s December 2023 version includes major improvements compared to the existing fiscal rules, but, according to the assessment by Mr. Darvas and co-authors, it also has some flaws, including limited incentives for much-needed green public investment.
This webinar will discuss the incentives for green investment in the recent proposals for revised rules. Mr. Darvas will suggest a potential improvement in the form of a fiscally responsible green investment rule. Numerical simulations for all EU countries will be shown to illustrate how this proposed rule would alter public debt dynamics and its determinants. The principles of this rule could be applicable in non-EU countries, too.
To participate in the webinar please sign up here.
We look forward to continuing our engagement with you!
Hervé Joly, Director (JVI)