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Rethinking EU Economic Governance


The COVID-19 pandemic and resulting economic crisis have laid bare and also worsened the shortcomings of the EU’s economic governance policies. Against this backdrop, the European Policy Centre launched the Task Force “Rethinking EU Economic Governance” in the spring of 2021. The Task Force brings together experts, academics, and present and former policymakers to debate about economic governance reform and formulate recommendations on how to improve the EU’s economic policy mix.

This exercise focuses on three main policy areas: First, higher debt and deficit levels across Europe related to COVID-19 response measures and the need for public investments to accomplish EU long-term objectives, such as building a digital and green economy, raises questions about the current form of the Stability and Growth Pact (SGP). Second, the European Semester will need to adapt in order to incorporate the implementation and monitoring of the National Recovery and Resilience Plans. Third, the pandemic has highlighted the importance of high-quality public and social services to fight inequality,  promote social inclusion and support better health outcomes. Social investment should, therefore, be properly accounted for in the EU’s economic frameworks.

Drawing on insights from the Task Force members, the EPC will publish one Policy Brief on each policy area, before collecting the results in a final Discussion Paper, which will also present relevant and ambitious, but politically feasible recommendations.

The EPC has been working on ways to reform EU economic governance for the past decade. In the publications and events included below, one can find the most relevant contributions by EPC analysts over the past years.


Economic governance / DISCUSSION PAPER
Rethinking EU economic governance: The foundation for an inclusive, green and digital transition
By Francesco De Angelis , Laura Rayner , Frederico Mollet - 09/02/2022
Social investment / POLICY BRIEF
Rethinking EU economic governance: Social investment
By Laura Rayner - 09/12/2021
Economic governance / POLICY BRIEF
Rethinking EU economic governance: The European Semester
By Frederico Mollet - 03/12/2021
Economic governance / POLICY BRIEF
Rethinking EU economic governance: The Stability and Growth Pact
By Francesco De Angelis , Frederico Mollet - 19/11/2021
Future of Europe / DISCUSSION PAPER
COVID-19: Lessons from the ‘euro crisis’
By Fabian Zuleeg , Janis A. Emmanouilidis - 16/04/2020
Automatic Fiscal Stabiliser: Make it happen!
By László Andor , Regula Hess - 02/05/2016
What role for social investment in the new economic governance of the Eurozone?
By Fabian Zuleeg , Jan David Schneider - 10/11/2015
Eurozone governance / COMMENTARY
Stepping into the abyss?
By Fabian Zuleeg , Janis A. Emmanouilidis - 05/12/2011
Eurozone governance / COMMENTARY
A New Deal to help save the euro
By Fabian Zuleeg - 10/05/2011
Eurozone governance / COMMENTARY
Beyond austerity
By Fabian Zuleeg - 26/11/2010


Chief Executive and Chief Economist 
Europe’s political economy, Future of Europe, EU relationship with third countries, transnational think tank cooperation
Senior Policy Analyst

Social Europe, economic governance, wellbeing economy, Recovery and Resilience Facility, the Just Transition, demographic change, the future of work

Junior Policy Analyst

Single market, Economic and Monetary Union, international trade, EU trade policy

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