The Network of EU Independent Fiscal Institutions has published a paper, which takes stock of (in)consistencies between EU and domestic fiscal frameworks. The paper draws specifically on the experience of national independent fiscal institutions as revealed in a new survey and case studies. The permanent secretariat of the High Council of Public Finance carried out the case study on France. A first example focuses on the triggering at national and European level of the Stability and Growth Pact’s escape clause at the beginning of the COVID crisis. The second examines the different opinions of the HCFP and the European Commission on the 2017 budget bill. Overall, the paper finds that the EU and national frameworks have been consistent most of the time, but with significant exceptions. In these cases, national requirements have generally leaned towards more prudent fiscal policies than the EU’s requirements. The proposed EU reforms to economic governance could reduce the margin of discrepancy, but potential areas of divergence remain.
The paper can be downloaded from the Network's website