Rethinking fiscal policy

<div>The pandemic and subsequent downturn have seen EU countries deploy unprecedented fiscal support, while the EU as a whole complemented this with an architectural innovation in the form of the Next Generation EU fund. As European economies begin to recover, is it time to return to pre-pandemic fiscal rules or is it time to reform them? If yes, then what should be changed and how?<br> <br> </div> <div>Bruegel’s Deputy director <a href="https://www.bruegel.org/author/maria-demertzis/">Maria Demertzis</a> takes a deep dive with Senior fellow <a href="https://www.bruegel.org/author/zsolt-darvas">Zsolt Darvas</a> and <a href="https://www.bruegel.org/author/rolf-strauch/">Rolf Strauch</a>, Chief economist of European Stability Mechanism.</div>