The current rules were born in the 90s and, in a nutshell, they mandate Member States to keep public debt below 60% and public deficits below 3% of GDP. Fiscal rules were suspended last year so that Member States had fiscal margin to fight an unprecedented crisis. Now everyone seems to agree that we need a new framework.
In this episode we cover why the EU needs different fiscal rules and why a green golden rule may be a good idea. We also discuss the potential obstacles for reform.
