Policy portal Public finance

As we feel the limits of our planet, governments must mobilise their regulatory toolkit and all the public resources required for the sustainable transition, to ensure economic resilience and the prosperity of future generations. This means upgrading infrastructure, health and educational systems and supporting the citizens affected by the economic transition.

Public deficits will likely increase, but paradoxically, they are indispensable for public debt sustainability in the long run, and financial markets know it. Public money is required to crowd in private investment and a failure to invest will result in much bigger future fiscal imbalances due to unmitigated climate change and loss of economic and social resilience.

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23 PUBLICATIONS

Consultation response

01/04/2026

Public finance

Finance Watch responds to Commission call for evidence on “do no significant harm principle” under the next EU budget
Position paper

24/04/2026

Public finance

Fiscal sustainability in a changing climate

Integrating climate risk into Debt Sustainability Analysis
Position paper

22/01/2026

Public finance

Aligning climate & socio-economic governance within the European Semester

Adapting EU preventive economic and policy monitoring to current challenges
Joint statement

18/12/2025

Public finance

Joint letter – Public money, public value: EU funding for companies must come with social conditions

The EU’s proposed long-term budget includes major investment priorities that aim to support competitiveness, innovation and industrial transformation. Often this comes without clear guarantees for workers, communities or society at large. A...
Joint statement

04/11/2024

Public finance

Joint Statement – Public Money, Public Benefits: Clear social and environmental standards must determine businesses’ access to public finance in the EU

Public finance plays a critical role in shifting Europe’s economy towards quality jobs, decarbonisation, and circularity. To achieve this, public support for businesses must be dependent on a harmonised set of social...
Joint statement

25/09/2024

Public finance

Joint letter – Europe needs a Next Generation 2.0 fund to secure its just transition

The imminent end of the Recovery and Resilience Facility (RRF) will leave a critical gap in EU funding for essential climate, social, and biodiversity investments. Finance Watch, as part of the FiscalMatters...
Report

16/07/2024

Public finance

Report – Europe’s coming investment crisis: Capital markets can only match a third of EU’s essential needs

In these times of hardship, Europe’s financing channels – even with the full strength of capital markets – would only match a third of the EU’s essential investment needs. Finance Watch’s new...
Open letter

15/04/2024

Public finance

Agreement on fiscal rules stands in the way of EU strategic autonomy – Joint letter

In a joint letter to the European Council signed by more 60 civil Society organisations, trade unions, think tanks and academics, the Fiscal Matters coalition, of which Finance Watch is a member,...
Joint statement

25/03/2024

Public finance

Joint statement – Fiscal Follies: How new EU rules miss the mark on climate and prosperity

In the joint statement below, co-signed by 8 organisations, Finance Watch warns that fiscal adjustment requirements under the new EU spending rules are incompatible with solving Europe’s challenges and calls on EU...
Report

10/07/2023

Public finance

Report – The debts we need: Reinforcing Debt Sustainability with Future-Oriented Fiscal Rules

Misinformed fear about financial markets and debt sustainability has clouded the debate on Europe’s new fiscal rules. This report unveils interactions between European financial markets and sovereign debt and proposes reforms to...
Joint statement

17/04/2023

Public finance

Joint Statement – Reaction to Germany’s pushback on debt rules

Finance Watch co-publishes today a joint statement reacting to the proposal from Germany, backed by other so-called “frugal” governments, for a common hard debt reduction rule. This contradicts the logic of the...
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The blog corner

Public Finance

Level:Beginner

26.01.2026

What the European Semester does and does not do

Public Finance

Level:Beginner

14.11.2025

Why climate costs keep mounting: A blind spot in Europe’s public finances

Public Finance

Level:Regular

02.12.2024

On the Capital Markets Union. A conversation with Finance Watch’s Chief Economist, Thierry Philipponnat
See our blog

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