Time to get it right: EU fiscal rules reform risks going wrong

In a hurried bid to close a deal on new EU fiscal rules by the end of the year, EU finance ministers are now pushing through an ill-considered agreement. The latest compromise text proposed by the Spanish presidency reintroduces common numerical targets while disregarding the need for sufficient fiscal space for quality public investments.

The Fiscal Matters coalition, representing civil society organizations, academics, think tanks, and trade union leaders, urges EU finance ministers to reject a hasty and inadequate agreement on fiscal rules.

Instead of settling for a subpar deal, finance ministers should aim for a comprehensive and forward-looking framework that addresses the challenges of the 21st century. This framework should foster qualitative investments, promote national budget alignment, and pave the way for a green and just transition.