On Wednesday 19 March, the European Parliament’s Committee on Economic and Monetary Affairs approved by a large majority (41 votes in favour, 5 against) the appointment of Dutchman Pieter Hasekamp as Chair of the European Fiscal Board (EFB), the body responsible for making independent recommendations to the EU institutions on the implementation of the European economic governance framework.
Addressing MEPs, Mr Hasekamp spoke of the “multiple challenges” facing the EU, such as population ageing and climate change, which have an impact on Member States’ budgetary policies. The United States’ new security stance is forcing the EU to “reconsider its defence strategy” and is “a clear case for increased defence spending in Europe”, he added. However, he called for careful consideration in order to maintain sustainable public finances, as the budgetary situations of the Member States vary greatly. He added that “voters are unlikely to support cuts in vital parts of non-defence spending”.
Mr Hasekamp, who currently heads the CPB Bureau for Economic Policy Analysis at the Dutch Ministry of Finance, replaces the Dane Niels Thygesen, for a three-year term.
The 2024 reform of the Stability and Growth Pact gave new powers to the European Fiscal Board (regulation 2024/1263). In particular, the Board must issue a non-binding opinion on the extension of the Pact’s general escape clause, which can be triggered in the event of a major macroeconomic shock in the EU, as was the case during the Covid-19 pandemic.
On Wednesday, the ECON Committee also gave the green light to the appointment of four other members – Eckhard Janeba, George Kopits, Benedicta Marzinotto and Lucia Rodríguez Muñoz – to the EFB. (Original version in French by Mathieu Bion)