Background: The COVID-19 pandemic devastated European economies, but it also created opportunities for the bloc to reform its fiscal rules. The existing framework, which favors balanced budgets and often recommends austerity, was suspended during the pandemic to allow national governments to raise spending and counteract the pandemic’s effects on economic activity. But now that the […]
Brief: US Sides With Southern Europe on EU Spending Rules
The U.S. treasury secretary urged the bloc not to tighten its purse strings prematurely.
