Today we propose new economic governance rules.
The aim is to strengthen public debt sustainability and promote sustainable and inclusive growth.
🔴 Press conference on #EUEconomicGovernance framework by @VDombrovskis and @PaoloGentiloni https://n.respublicae.eu/i/broadcasts/1OdJrzREVpqJX
🐦🔗: https://n.respublicae.eu/EU_Commission/status/1651166247797547009
@VDombrovskis @PaoloGentiloni Stronger national ownership
National medium-term fiscal-structural plans are the cornerstone of our proposals.
EU countries will have greater leeway in setting their own fiscal adjustment paths and reform and investment commitments.
🐦🔗: https://n.respublicae.eu/EU_Commission/status/1651166997613273088
Simpler rules
For EU countries with a deficit above 3% of GDP or public debt above 60% of GDP, we will issue a country-specific “technical trajectory”.
For EU countries with a deficit below 3% of GDP and public debt below 60% of GDP, we will provide technical information.
🐦🔗: https://n.respublicae.eu/EU_Commission/status/1651167316493606916
Common safeguards will apply to ensure debt sustainability.
Escape clauses will allow deviations from the expenditure targets in case of a severe economic downturn or of exceptional circumstances outside the control of an EU country with a major impact on public finances.
🐦🔗: https://n.respublicae.eu/EU_Commission/status/1651167844531355648
Facilitating reforms and investment
Our proposals also aim to facilitate and encourage EU countries implementing important reform and investment measures in:
🫒 the green and digital transitions
💪the economic and social resilience
🛡️the need to bolster Europe's security
🐦🔗: https://n.respublicae.eu/EU_Commission/status/1651168378306932737
Read more about our proposals on #EUEconomicGovernance rules fit for the future
→ in our press release https://europa.eu/!xFbxGr
→ in our Q&A https://europa.eu/!mbnTGw
→ in our factsheet https://europa.eu/!XMV63V
🐦🔗: https://n.respublicae.eu/EU_Commission/status/1651169368150097923
Effective enforcement
Rules require enforcement.
While our proposals provide EU countries with more control over the design of their medium-term plans, they also put in place a more stringent enforcement regime to ensure they deliver on their commitments.
🐦🔗: https://n.respublicae.eu/EU_Commission/status/1651168670360510466