Online Debate

Should the Stability and Growth Pact’s 3% deficit rule be abandoned? #FBFDiscuss!

Add to calendar 2021-09-16 13:00 2021-09-16 14:00 Europe/Paris Should the Stability and Growth Pact’s 3% deficit rule be abandoned? #FBFDiscuss! Outside EUI premises YYYY-MM-DD
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When

16 September 2021

13:00 - 14:00 CEST

Where

Outside EUI premises

Jean Pisani-Ferry and Volker Wieland will discuss their opposing views on whether it is appropriate or not, given the current circumstances, to abandon the 3% rule set in the Stability and Growth Pact. This debate is the third in the #FBFDiscuss! series, featuring speakers with contrasting views on specific motions.

The third event of the #FBFDiscuss! series will develop around the motion: 'Should the Stability and Growth Pact's 3% deficit rule be abandoned?'

The Stability and Growth Pact (SGP) aims to ensure that Member States pursue sound public finances, while coordinating their fiscal policies. Given their crucial role in avoiding potential spillovers between countries, SGP rules constantly cause controversies and hit the headlines. In the present times of economic downturn, during which the EU activated general escape clauses, different voices in policy and academic circles have questioned the maintenance of a deficit requirement within the SGP framework. Is the current Covid-19 setting the time to rethink the EU fiscal framework, in particular the consequences of not complying with the 3% GDP Treaty reference value? How will greater fiscal flexibility impact the economic recovery?

#FBFDiscuss! is a new Oxford-Union style debate format which brings together two contestants from academia to debate a specific motion. After the opening statements, the event will see the direct participation of the public who will have the chance to pose their questions and vote for their favourite opinion. More information on the upcoming and past #FBFDiscuss! events can be found here.

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