The current European economic governance setting is misguided; rhetorically it is focused on growth and competitiveness, while the procedures are dominated by strict fiscal rules.
The well-being of its peoples, the general goal of the Treaty on the European union, has been neglected. In order to re-focus European economic policy while taking into account economic restrictions, Georg Feigl suggests a new, more balanced central tool for policy making - the “Magic Polygon”. Drawing on the results of the ground-breaking report of the “Commission on the Measurement of Economic Performance and Social Progress”, he proposes four overall economic goals and four restrictions, as well as a new economic scoreboard and some other changes, to develop a more coherent economic governance.
Speaker: Georg Feigl, Chamber of Labour (Arbeiterkammer), Vienna
Comments: Claire Dhéret, European Policy Centre (EPC)
Moderator: Willy De Backer, ETUI
A light lunch will be served from 12h00 in the room.
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Georg Feigl (Chamber of Labour, Vienna) and Achim Truger (Macroeconomic Policy Institute, Düsseldorf)