Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/329935 
Year of Publication: 
2025
Citation: 
[Journal:] European Journal of Economics and Economic Policies: Intervention (EJEEP) [ISSN:] 2052-7772 [Volume:] 22 [Issue:] 2 [Year:] 2025 [Pages:] 189-206
Publisher: 
Edward Elgar Publishing, Cheltenham
Abstract: 
The reform of the European fiscal rules came into force on 30 April 2024. The new rules, like the former ones, impose a depressive bias on domestic fiscal policies, leaving Member States' no fiscal room for manoeuvre. At the same time, the European Pillar of Social Rights sets ambitious targets for national social protection systems and requires an increase in social spending. A new form of governance would be required to prevent the fiscal rules from imposing restrictive fiscal policies to the expense of economic activity and, of more important, objectives (green transition, defence). This would require abandoning arbitrary targets for public deficits and debts and accepting, when needed, an increase in social contributions and taxation.
Subjects: 
Fiscal rules
European fiscal governance
European social model
Social spending
JEL: 
E61
H53
I38
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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