The future of the EU economic framework
1 June 2022 | 15.00 CET
EUROPEAN PARLIAMENT BRUSSELS, ASP 6Q1
Remote participation: https://broadcaster.interactio.eu/join/z15j-6942-26u1
The COVID-19 pandemic caused an unprecedented social and economic crisis. Existing structures and mechanisms proved inadequate to deal with the accumulated challenges of dramatically declining GDP, rising public debt, rising unemployment, deregulation of working conditions and widening inequalities. In contrast to the financial crisis of 2008, the EU reacted by proposing a new fiscal policy. For the first time, the EU moved to create a central mechanism based on the issuance of EU joint debt to finance the EU’s social and economic recovery. This move, which seemed unthinkable during the previous decade’s financial crisis, reinvigorated the debate on the future of the EU’s economic architecture and the need for a central fiscal capacity able to provide a counter-cyclical stabilisation function and facilitate timely and adequate support in the event of economic shocks. The war in Ukraine makes these challenges even more urgent, inviting us to think out of the box and discuss new tools and frameworks regarding EU economic policy. New agencies, such as the Recovery and Resilience Fund and critical current legislative processes, such as taxonomy, will also be discussed.
15.00 Welcoming and Introductory Remarks by MEP Nikolaj Villumsen, THE LEFT Vice-President, EMPL & ENVI Committees
15.15 Rethinking Stability and Growth Pact towards a new EU economic governance model – New tools and perspectives after the pandemic
Chair: MEP Dimitrios Papadimoulis, Vice-President of the European Parliament, ECON & BUDG Committees, The Left
MEP Silvia Modig, BUDG & ENVI Committees, THE LEFT
Euclid Tsakalotos, former Minister of Finance, Member of Parliament, SYRIZA-Progressive Alliance, Greece
Declan Costello, Deputy Director-General, DG ECFIN, European Commission
MEP Costas Mavrides, ECON & INTA Committees, Group of the Progressive Alliance of Socialists and Democrats
MEP Ernest Urtasun, ECON & AFET Committees, The Greens/EFA
Prof Gary Dymski, Chair in Applied Economics at the Leeds University Business School (LUBS)
17.15 Concluding remarks by MEP Silvia Modig, BUDG & ENVI Committees,The Left & MEP Dimitrios Papadimoulis, Vice-President of the European Parliament, ECON & BUDG Committees, The Left
The discussion focus on Rethinking Stability and Growth Pact towards a new EU economic governance model – New tools and perspectives after the pandemic.
The conference is an event organised by The Left in the European Parliament, especially by the delegations of SYRIZA-Progressive Alliance, Die Linke, Vasemmistoliitto and BH Bildu.
Other invitees are Politicians, Members of the European Parliament from The Left, the Socialists & Democrats and The Greens, European Commission officials, academics and civil society representatives.
The event will be web-streamed live and there is a possibility for simultaneous interpretation in English, French, German, Greek, Finish, Spanish, and Basque (passive).
For any further information and clarification, please contact The Left political advisor, responsible for ECON committee issues, Mr Lambis Kontonis, at [email protected] / gsm (+32) 4 888 13649 (whatsapp / viber / signal)