Europa oltre le regole. Un nuovo patto per la crescita sostenibile verso l’Europa dei cittadini

The budgetary rules of the European Union, inherited in their current form from the great financial crisis, have proved to be difficult to apply and unable to generate growth and development in the member states most in difficulty. The COVID-19 pandemic has made their reform necessary and urgent, as many illustrious economists have been asking for for some time. ‘There is no question that the current rules on the stability pact will have to change. They were inadequate and are even more inadequate for an economy emerging from a pandemic. We will need to focus on strong growth momentum to ensure fiscal sustainability.’ With these words, pronounced in the Chamber of Deputies on 12 May, President Draghi clearly expresses his political line, opening the debate also in Italy. The spirit proposed in this book is to proceed in parallel on three roads, to achieve an overall reform of the economic architecture of the European Union. The first is to simplify the rules, making them more shared and effective. The second is to courageously face the great problem of the Italian public debt. To do this, it is necessary to strengthen national institutions such as the Parliamentary Budget Office and public policy evaluation tools. The third is to make the solidarity effort of the European Union sanctioned by the launch of the ‘Next Generation EU’ program permanent. Inspired by federalist thinking, we must build together a common European budget that favors investment and growth. Combining national responsibility and European ambition is the only chance to meet the expectations of all European countries and complete the construction of our common European home. If we give an insufficient response to this great event in history, the consequences for future generations will be very serious and the future of the entire continent will be at risk.