In this special one-off we focus on European fiscal policy, following FiscalMatters' week of debate in which the future of the EU fiscal framework is discussed: “Too often important policy decisions happen behind closed doors. We need an open and accessible debate on Europe’s fiscal future”.



00:00 Intro’s by Sara Murawski and Rodrig Fernandez
06:30 Start of lecture by Ludovic Suttor-Sorel: Why Fiscal matters
11:40 Debt sustainability analisis
15:00 On low interest rates
17:43 Emergence of new risks
20:11 The maze: What is the EU Fiscal framework?
25:38 The Problems: What is wrong with the EU fiscal framework
29:37 The navigation: How to reform this
33:40 Q&A: Debt levels: how low do they need to be?
37:16 Q&A: Where and at what scale to increase public spending?
41:31 Q&A: And Eurobonds?
43:34 Q&A: Green golden rule, good or not?
48:20 Q&A: Artificial constraint or not?
51:00 Greek situation? Did not follow any rule at the moment, cure problematic, some structural reform was needed
53: 00 Q&A: What if a government needs to make a large investment?
54:56 Q&A: New rules and neoliberal tropism
57.40 Q&A: What can single states do, other than removing the debt break?


Together with Ludovic Suttor-Sorel from Finance Watch we look at the current EU fiscal rules and how they should change in order to face the challenges we face regarding climate change, a just transition, rising inequality, unemployment and public health. How can we, civil society, academics and social and environmental activists contribute to fiscal policy for the good?

What are the main problems of the current EU fiscal rules, and to what extent to they hinder countries to make the necessary investments to build resilient green economies?
What kind of EU fiscal framework do we need to tackle the main challenges of the 21st century?
What other instruments should the EU use to promote more convergence between the member states, and is this all feasible within the euro?

Ludovic Suttor-Sorel is a Research and Advocacy officer. Ludovic works on fiscal policy, sustainable finance, natural capital and the nexus between biodiversity and finance.

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About Crash Course Economics
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Music credit: "Capital G" by Nine Inch Nails, "Tribal Remix" by Imnotlouis (CC BY-NC-SA 3.0 US)

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