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.

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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?