Workers use a hammer to fix a European Flag near the EU Headquarters in Brussels 21 March 2005, on the eve of the EU Spring Summit. The European Union (EU) voiced relief after clinching a deal to reform the bloc's long-strained fiscal rules, but more clouds are looming over a traditional economic summit this week. EU finance ministers negotiated late into 20 March night before striking a deal on rewriting the Stability and Growth Pact, paving the way for the bloc's leaders to give their final approval when they gather 22 and 23 March. / AFP PHOTO / GERARD CERLES (Photo credit should read GERARD CERLES/AFP/Getty Images)

Blog post: When Facts Change, Change the Pact

Jan Trevisan 30 April 2019

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“When facts change, I change my mind,” John Maynard Keynes famously said. With long-term interest rates currently near zero, the European Union should reform its fiscal framework to allow member states to increase their debt-financed public investments.

Jean Pisani-Ferry reflects on the reform of the European Union’s Stability and Growth Pact in his latest column on Project Syndicate.

Read the full post.

Categories: News