The reformed EU fiscal framework – potential macroeconomic implications for the euro area

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Following the European Commission’s legislative proposals of April 2023, the ECOFIN Council reached an agreement on the reform of the fiscal rules underpinning the EU Stability and Growth Pact (SGP) on 20 December 2023.

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https://www.ecb.europa.eu//press/economic-bulletin/focus/2024/html/ecb.ebbox202403_08~bf57c948c8.en.htmlhttps://www.ecb.europa.eu//press/economic-bulletin/focus/2024/html/ecb.ebbox202403_08~bf57c948c8.en.html
Retrieved on: 
Thursday, April 25, 2024
Information
Tags: 
Stability, Correction, Tax, EDP, Growth, Exercise, ECB, DSA, Resilience, European Parliament, SPB, Treaty, Social Security, SGP, Recovery, Policy, Overalls, Eurogroup, Commission, Council, GDP, European, Safety, European Commission, Orientation, Government, Security (finance)
Geotags: 
EU, IRELAND, CROATIA, LUXEMBOURG, ESTONIA, NETHERLANDS, LITHUANIA
Summary
Key Points: 
  • Following the European Commission’s legislative proposals of April 2023, the ECOFIN Council reached an agreement on the reform of the fiscal rules underpinning the EU Stability and Growth Pact (SGP) on 20 December 2023.
  • This box provides a preliminary assessment of the potential macroeconomic effects of the EU fiscal framework reform over the horizon of the March 2024 ECB staff macroeconomic projections for the euro area.
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