Adoption of the Opinion by the CoR Plenary Session
On 10 October 2023, the CoR Plenary Session adopted its position on the Reform of Economic Governance, in an opinion led by Elio Di Rupo (BE/PES), Minister-President of Wallonia.
The CoR called for changes to European fiscal rules to make them more effective and increase their democratic legitimacy.
Margardia Marques, European Parliament co-rapporteur on this reform, took part in the Plenary debate with members and highlighted that the CoR opinion had strongly influenced her own report.
Rapporteur Di Rupo said: “While in 2022, 19 out of the 27 Member States had either a debt above 60% GDP or an annual deficit of more than 3%, the existential question is simple: is the new economic governance at the service of a better European future? We support the approach of gradually reducing the public debt of the most indebted countries, while providing the necessary fiscal space for public investment in the climate and digital transitions. Secondly, the rules imposed must recognise the specificity of national and regional situations while ensuring fair treatment of all Member States. Finally, specific treatment should be given to national or regional co-financing of all projects co-financed by the EU, such as cohesion projects.”