Briefing 
 

Reform of the EU’s economic governance rules 

On Tuesday morning, MEPs, the Commission and the Council Presidency will discuss legislative proposals tabled last week to reform the EU’s economic governance rules.

A reform of the EU’s fiscal rules, most importantly to improve debt sustainability and spur growth, has long been on the cards but was put on ice at the onset of the COVID-19 pandemic. With the health crisis over, and the temporary suspension of some of the fiscal rules set to expire in January, the Commission has now tabled its legislative proposals.

During the debate, MEPs will outline their priorities concerning this reform, building on the resolution adopted in July 2021.

Background

The proposed changes consist of a package of three legislative texts dealing with the prevention of excessive deficit and debt build-ups, the correction of such excessive build-ups, and improving budgetary planning and the national ownership of these plans. The aim is for Council and the European Parliament to reach a deal by the end of the year.

Debate: Tuesday 9 May

Procedure: Council and Commission statements, no resolution