Economic governance from rules to management
The required complementary governance agenda draws on experience in success EU policies areas and is aimed at converging national institutions in the framework of EU networks. When it comes to the SGP, rules are important but they are meaningless without ownership for the intentions behind the rules. This will demand a switch in roles from the European Commission and in particular from DG ECFIN and the European Fiscal Board (EFB). In essence, the proposed new approach is based on the subsidiarity-based distinction between first and second-order control. The member states have to supervise themselves and the Commission has to monitor whether they have the required independent institutions.
Read policy brief.
Adriaan Schout (Senior Research Fellow, the Clingendael Institute)
Jens Kuitert (Intern, the Clingendael Institute)