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7 reform proposals for EU's economic governance

A joint policy brief published today by members of FiscalMatters coalition outlines seven EU economic governance reforms for a stronger, greener and more resilient Europe.

This reform proposal comes as EU finance ministers aim to agree on a reform compromise at their summit in March 2023. An agreement would pave the way for a European Commission legislative proposal on how to reform the Stability and Growth Pact.

The seven demands are:

  1. Quality Plans: Ensure the quality of national medium-term fiscal structural plans

  2. Future Generations: Free future-oriented spending from arbitrary constraint

  3. Debt Sustainability: Improve the monitoring of debt sustainability

  4. Coordinating Successes: Reform the European Semester to deliver on EU environmental, economic and social objectives

  5. Monitoring Risks: Broaden and deepen the Macroeconomic Imbalance Procedure

  6. Democratic Ownership: Increase national and democratic ownership

  7. Growing Stronger: Establish European fiscal capacities

The brief is endorsed by youth, worker and environmental groups, namely Climate Action Network (CAN) Europe, New Economics Foundation, European Trade Union Confederation (ETUC), European Youth Forum (EYF), European Environmental Bureau (EEB), Greentervention and Social Platform.


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