Webinar | Are the cuts coming back?

The new EU fiscal rules and proposals for action

Date: Thursday, April 4, 2024
Hours: 6:00 p.m.-7:00 p.m.
With simultaneous translation: Spanish-English

Aftyer the suspension of deficit ceilings and public debt rules during the pandemic and the cost of living crisis derived from the war in Ukraine and climate shocks, the EU has agreed to reform these fiscal rules after a year of negotiation. The final approval of the new economic governance will see the light in April 2024 in the European Parliament. With its coming into effect, we will return to adjustments – this time somewhat softer – of the public accounts of the majority of European countries that exceed the deficit ceilings of 3% and public debt of 60% of GDP. Furthermore, the European Commission foresees more favorable debt reduction trajectories for those Member States that commit to reforms and investments in favor of “green” growth and that guarantee common European priorities, especially spending on security and defense. These priorities will be redefined under a new relationship of forces after the European elections.

Civil society and research centers have been alerted that the new rules are restringing the fiscal space for spending on resilience and socially necessary sectors, just like health, education, care, peace, public transport, water, protection and regeneration of eco systems, energy etc. The rules promulgate the so-called “austerity 2.0”, more sweetened than 1.0, but which insists on a framework of restriction that leave no space for public administrations to face the polycrisis.

Faced with the consequences of austerity 2.0 and the redefinition of priorities in the EU – under the militarist banner – we want to create a space for critical analysis to understand the guidelines of the new European economic governance and its social, political and financial implications. We want to learn about reforms in the coming years, and resolve new keys to guarantee the necessary resources for a fair and feminist ecosocial transition and the well-being of the population in the next decade. Furthermore, from the voices of the environmental field, from social and gender justice and labor unions, we want to contribute to providing proposals for possible advocacy and mobilization actions.

Invited speakers:

  • Isabelle Brachet (CAN Europe)
  • Carlos García Paret (Greenpeace)
  • Nicola Scherer (ODG)
  • Alvaro Gaertner (CCOO)
  • Xavier Martínez Gil, de la Plataforma per la Fiscalitat Justa
  • Moderator: Nuria Blázquez (Ecologists in Action)

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