The Independent Authority for Fiscal Responsibility (AIReF) publishes an Opinion on the reform of fiscal governance in the EU, which came into force on April 30, 2024. The economic governance of the European Union (EU) is made up of a set of rules and institutions that have been created since 1992, with the aim of preventing and correcting fiscal and macroeconomic imbalances that may jeopardize the proper functioning of this area and, in particular, of the Economic and Monetary Union.
The process has culminated in a framework that presents important novelties with respect to the previous one, both in terms of the underlying consensus regarding the role and design of fiscal policy, and in terms of its practical implementation.
