In the fiscal policy guidance for 2024 that it unveiled on Wednesday 8 March, the European Commission has already taken on board some of the elements of the future European economic governance framework that could apply starting in 2025, once the legislative reform of the ‘Stability and Growth Pact’ is ratified (see other news).
“The 2024 guidance should be seen as a bridge between how the [European budget] rules have worked in the past and how they may work in the future. This means...