Crash Course Economics

The future of the EU fiscal framework — with Ludovic Suttor-Sorel

October 18, 2021 Ludovic Suttor-Sorel Season 4 Episode 1
Crash Course Economics
The future of the EU fiscal framework — with Ludovic Suttor-Sorel
Show Notes Chapter Markers

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”.

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.


About Crash Course Economics

Crash Course is a platform designed to open up debate on how we can move out of the current crisis and make the necessary steps towards achieving social, economic, ecological and regenerative justice.

Crash Course is inviting global experts to break down complex issues in lay terms and make them accessible to all so that we can understand how to shape our economic system for a just recovery and future.


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

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