Reassessing the EU Fiscal and Monetary Framework after COVID-19

• Robert Schuman Centre for Advanced Studies
• PWC: Pierre Werner Chair Programme on Monetary Union

This workshop will examine the features of an efficient European institutional setting in the aftermath of the Covid-19 crisis. Building on the experience of Next Generation EU, it will discuss the existing European challenges, including the fractioned single market, growth in an ageing society, inequality across and within EU countries and global political instability.

The fiscal response to the pandemic has been unprecedented, both at the national and European level, with Next Generation EU being a welcome path-breaking coordinated EU response to the Covid-19 crisis. NGEU is a temporary programme with long-term commitments (debts and reforms) addressing challenges which will not disappear with Covid, while the list of post-Covid challenges is longer: a still fractioned single market, growth in an ageing society, inequality across and within EU countries, global political instability, etc. NGEU will shape the European institutional setting in the longer-term, which raises the question: how it should be to efficiently address all these challenges?