Joint Declaration from French and German NGOs on the reform of the EU Fiscal Rules
The Stability and Growth Pact is unfit to deal with the climate and biodiversity crisis and to deliver the European Green Deal. It does not take into account the risks and the impacts of climate change, and they do not promote investments in favour of the green and just transition, as they only focus on economic growth. The European fiscal and budgetary rules must be adjusted. For that, a Green Golden Rule securing green spending and incentivising Member States to invest heavily in the green transition must find a way into the fiscal and budgetary rules.