MANIFESTO FOR A GREEN, JUST AND DEMOCRATIC EUROPEAN ECONOMY
FEBRUARY 2022
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We are civil society organisations, think tanks, trade unions and employers supported by academics from across the European Union.
We have come together to call for fundamental reform of the EU’s fiscal rules.
The aim of economic policy across Europe must not be to simply reduce debt. The economy needs to serve the reduction of socio-economic, intergenerational and gender inequalities, the realisation of social rights and the protection of climate and environment. The EU’s fiscal framework should fully support just transitions and a systemic transformation of our economies and societies to keep global warming below 1.5°C.
The Maastricht Treaty, signed in 1992, and legislative changes following the global financial crisis, created strict fiscal limits that cap member states’ public debt and deficits. While coordinating fiscal policies is necessary in a monetary union, these rules, with new challenges facing Europe, are no longer fit for purpose.
First, they impose persistent constraints on public spending, depressing employment and investment. In many countries unemployment rates, especially youth unemployment rates, are still at unacceptable levels.
Second, they fall short of ensuring we can adapt to and mitigate climate change through a just transition. The annual green investment gap was recently assessed by the European Commission at 520 billion euros. To fill the gap, substantial public funding will be needed. The imposition of arbitrary fiscal limits make this target unreachable.
A return to the EU fiscal rules – suspended during the Covid-19 crisis – would translate into severe cuts in public spending in a majority of EU member states.
New austerity would jeopardise the recovery from the socio-economic impacts of the Covid-19 pandemic, and annihilate progress made thanks to the Recovery and Resilience Facility. It would deepen social inequalities and erode the citizens’ trust in the EU. And it would leave many people and governments without sufficient resources to engage in the green and just transition, affecting cohesion and convergence between member states.
We therefore call for deep reform of the EU economic governance framework, to make sure reformed fiscal rules will be consistent with agreed EU social, climate and environmental goals. Spending quality is of the essence: citizens’ money must be well-spent and serve democratically-defined objectives.
We call for a socio-economic transformation of our economic model, a change of paradigm, emphasising the need for considerably increased public investment as well as a strong social dimension of the economic governance, supported by the European Pillar of Social Rights.
We also call for a new approach to ensuring member states’ debt sustainability. Reforms must take into account national contexts, the need to avoid self-defeating austerity, the convergence of European economies, and the building up of fiscal risks.
Climate-related fiscal risks – i.e. the impact that underinvesting in climate change mitigation and adaptation will have on public budgets – need to be part of the country-specific debt sustainability analyses.
Regulatory and administrative measures, taxation as well as additional funding also have a role to play to trigger and orient private investments.
Most importantly, governments have the responsibility to steer the way to operate a socially just green transition. The European Union cannot afford to take any other path.
Signatories:
1. Finance Watch, Belgium
2. The European Trade Union Confederation, Belgium
3. SGI Europe, Belgium
4. The European Environmental Bureau, Belgium
5. Climate Action Network (CAN) Europe, Belgium
6. Greenpeace EU, Belgium
7. The European Youth Forum, Belgium
8. Sustainable Finance Lab, Netherlands
9. New Economics Foundation, UK
10. Greentervention, France
11. Fondation pour la Nature et l’Homme, France
12. Union Network International-Europa (UNI Europa), Belgium
13. European Federation of Public Services Unions (EPSU), Belgium
14. IndustriAll European Trade Union, Belgium
15. Fédération Européenne des Retraités et Personnes Âgées, Belgium
16. Deutscher Gewerkschaftsbund (DGB), Germany
17. Italian General Confederation of Labour (CGIL), Italy
18. Federazione Italiana Reti dei Servizi del Terziario (FIRST CISL), Italy
19. UIL Friuli Venezia Giulia, Italy
20. The Cyprus Workers Confederation (SEK), Cyprus
21. Union of Autonomous Trade Unions of Croatia (UATUC-SSSH), Croatia
22. Unión Sindical Obrera USO, Spain
23. Confederation of Christian Trade Unions Belgium (ACV-CSC), Belgium
24. Confédération Française Démocratique du Travail (CFDT), France
25. The Finnish Confederation of Professionals (STTK), Finland
26. International Union of Tenants (IUT), Sweden
27. Naturefriends International, Austria
28. Naturfreunde, Switzerland
29. eco-union, Spain
30. Clean Air Action Group, Hungary
31. Legambiente, Italy
32. CEEweb for Biodiversity, Hungary
33. France Nature Environnement, France
34. National Youth Council of Ireland, Ireland
35. CNCD-11.11.11, Belgium
36. ZERO – Association for the Sustainability of the Earth System, Portugal
37. Naturefriends Greece, Greece
38. Association Justice and Environment, EU
39. Seas At Risk, Belgium
40. Youth Express Network , France
41. Zaļā brīvība, Latvia
42. Federazione Gruppo Italiano Amici Della Natura, Italia
43. Lifelong Learning Platform, Belgium
44. Portuguese National Youth Council, Portugal
45. MEDASSET – Mediterranean Association to save the Sea Turtles, Greece
46. SOLIDAR, Belgium
47. Association For Promotion Sustainable Development, India
48. Fair Trade Advocacy Office, Belgium
49. Etopia, Belgium
50. International Young Naturefriends, Austria
51. ASUFIN, Spain
52. TDM 2000 International ETS, Italy
53. vetoNu, Sweden
54. Crash Course Economics, Netherlands
55. Feasta: the Foundation for the Economics of Sustainability, Ireland
56. Social Platform, Belgium
57. Deutscher Naturschutzring (DNR), Germany
58. Green Foundation Ireland, Ireland
59. Women Engaged for a Common Future International, Netherlands
60. ATTAC, Spain
61. NaturFreunde Deutschlands e.V., Germany
62. Polish Zero Waste Association, Poland
63. Reset.Vlaanderen, Belgium
64. Climate Strategy, Spain
65. Asociación Canarias Archipiélago Sostenible, Spain
66. Focus Eco Center, Romania
67. Positive Money Europe, Belgium
68. Let’s Do It Foundation, Estonia
69. Eurodiaconia, Belgium
70. MVO Nederland, Netherlands
71. The Other Economy, France
72. Mensa Cívica, Spain
73. 11 maart beweging, Belgium
74. The National Youth Council of Latvia, Latvia
75. 350.org, Europe
76. Germanwatch e.V., Germany
77. Lifelong Learning Platform, Belgium
78. Mediterranean Institute for Nature and Anthropos [MedINA], Greece
79. Grands-Parents pour le Climat (Belgique francophone), Belgique
80. Association Green Istria (Udruga Zelena Istra), Croatia
81. Priatelia Zeme-CEPA, Slovakia
82. CEE Bankwatch Network, Czech Republic
83. Studenten voor Morgen, Netherlands
84. European Environmental Bureau, Belgium
85. Nyt Europa, Denmark
86. Netzwerk Gute Wirtschaft, Deutschland
87. EU Umweltbüro, Austria
88. National Alliance of Student Organisations in Romania (ANOSR), Romania
89. CONCORD Europe, Belgium
90. Fingo – Finnish Development NGOs, Finland
91. Natuur & Milieu, The Netherlands
92. Nederlandse Vereniging Duurzame Energie, Netherlands
93. Bond Beter Leefmilieu, Belgium
94. Milieudefensie – FoE Netherlands, Netherlands
95. Environmental Association Za Zemiata – FoE Bulgaria, Bulgaria
96. PowerShift e.V., Germany
97. Mouvement Ecologique, Luxembourg
98. European Association of Service Providers for Persons with Disabilities, Belgium
99. Oikopolis, Greece
100. CALLISTO Wildlife and Nature Conservation Society, Greece
101. Grüne Wirtschaft, Austria
102. Aplinkosaugos koalicija (Lithuanian Environmental Coalition), Lithuania
103. European Students Union, Belgium
104. Klimaatcoalitie – Coalition Climat BE, België
105. Citizen’s Climate Europe, Netherlands
106. SDG Watch Europe, Europe
107. transform! europe, Belgium
108. EuroNatur, Germany
109. Inter Environnement Wallonie, Belgium
110. Organising Bureau of European School Student Unions (OBESSU), Belgium
111. vzw Climaxi, Belgium
112. Portuguese National Youth Council, Portugal
113. Pasaules Dabas Fonds, Latvia
114. Institut Veblen, France
115. Eurochild, Belgium
116. European Sustainable Business Federation, Belgium
117. Friends of the Earth Europe, Belgium
118. monneta gGmbH, Germany
119. Regios eG, Deutschland
120. AGE Platform Europe, Belgium
121. Climate Express, Belgium
122. FiscalFuture e.V., Germany
123. SÜDWIND, Germany
124. ActionAid Denmark, Denmark
125. European Confederation of Cooperatives in Industry and Services, Belgium
126. Réseau Action Climat, France
127. OIKOS – Cooperação e Desenvolvimento, Portugal
128. Observatori del Deute en la Globalitzacio, Spain
129. Financial Justice Ireland, Ireland
130. Wellbeing Economy Alliance (WEAll), UK
131. Make Mothers Matter (MMM), France
132. Malta National Youth Council (KNŻ), Malta
133. VšĮ “Žiedinė ekonomika”, Lithuania
134. National Youth Council of Slovenia, Slovenia
135. Friends of the Earth Malta, Malta
136. AK Europa, Austria
137. Institut Rousseau, France
138. Veblen Institute for Economic Reforms, France
139. Foundation for European Progressive Studies (FEPS), Belgium
140. Les Econologistes, Belgium
141. Association pour le Développement des Études Keynésiennes (ADEK), France
142. The Nevin Economic Research Institute NERI, Ireland
143. Arbeitsgruppe Alternative Wirtschaftspolitik e.V., Germany
144. Forum pour la Transition, Belgium
145. ECCO Think Thank, Italy
146. Dezernat Zukunft, Germany
147. Instrat Foundation, Poland
148. Our New Economy, Netherlands
149. Transnational Institute (TNI), Netherlands
150. Forum Ökologisch-Soziale Marktwirtschaft e.V., Germany
151. FleXibles – Association for the investigation of a new economy-system, Switzerland
152. Climate & Company, Germany
153. Scientists for Future Germany, Germany
154. Rada mládeže Slovenska, Slovakia
Academics
155. Olivier Blanchard, MIT, emerite Robert Solow Professor, USA
156. Steven Keen, University College of London, UK
157. Siobhan Airey, Trinity College Dublin, Ireland
158. Philipp Heimberger, Vienna Institute for International Economic Studies, Austria
159. Hielke Van Doorslaer, Ghent University, Belgium
160. Guillaume Sacriste, Université Paris 1 Panthéon Sorbonne, France
161. Antoine Vauchez, Université Paris 1 CNRS, France
162. Thomas Lagoarde-Segot, KEDGE BS, France
163. David Cayla, Université d’Angers, France
164. Ramaux Christophe, Université Paris 1, Economistes atterrés, France
165. Laurence Scialom, University Paris Nanterre, France
166. Michel Dévoluy, Michel Dévoluy, Professeur honoraire des universités, France
167. Dominique Plihon, Université Sorbonne Paris Nord, France
168. Léo Charles, Université Rennes 2, France
169. Jeremy Leaman, Loughborough University, United Kingdom
170. Pascal Glémain, Université Rennes 2, France
171. Roland Pérez, Université Montpellier MRM, France
172. Werner Raza, EuroMemo Group – European Economists for an Alternative Economic Policy in Europe, Austria
173. Jorge Uxó, Universidad de Castilla, La Mancha y MacroAFE, Spain
174. Vivien Schmidt, Boston University, USA
175. Marek Hudon, Université libre de Bruxelles, Belgium
176. Marc-Olivier Leclerq, KEDGE Business School, Belgium
177. Iván H. Ayala, Universidad Rey Juan Carlos, Spain
178. Seraina Grünewald, Radboud University Nijmegen, Netherlands
179. David Bokhorst, European University Institute, Netherlands
180. Marija Bartl, University of Amsterdam, Netherlands
181. Candida Leone, University of Amsterdam, Netherlands
182. Irene van Staveren, Erasmus University Rotterdam, Netherlands
183. Hans Schenk, Utrecht University, The Netherlands
184. Karen Maas, Impact Centre Erasmus Rotterdam, Netherlands
185. Luis Reyes Ortiz, KEDGE Business School, France
186. Herman Wijffels, Utrecht University, Netherlands
187. Luis Reyes Ortiz, KEDGE Business School, France
188. Stefano Lucarelli, Università di Bergamo, Italy
189. Andrea Fumagalli, University of Pavia, Italy
190. Prof Tim Jackson, University of Surrey, UK
191. Dirk Ehnts, Fachhochschule Magdeburg-Stendal, Germany
192. Oriol Roca-Sagalés, Universitat Autonoma de Barcelona, Spain
193. Javier Asensio, Universitat Autònoma de Barcelona, Spain
194. Gracjan R. Bachurewicz, University of Warsaw, Poland
195. Daniela Cialfi, University of Studies Gabriele d’Annunzioo Chieti-Pescara, Italy
196. Andrew Denis, City, University of London, United Kingdom
197. Jörg Bibow, Skidmore College, United States
198. Eckhard Hein, Berlin School of Economics and Law, Germany
199. Richard Murphy, Sheffield University Management School, United Kingdom
200. Michel Dévoluy, Université de Strasbourg, France
201. Marie-Annick Barthe, Université de Paris , France
202. Felix FitzRoy, University of St. Andrews, UK
203. Martina Metzger, Berlin School of Economics and Law, Germany
204. Dany Lang, Sorbonne Paris Nord, France
205. Radhouan Ben Chalbia, Université de Sousse, Tunisie
206. Jan Priewe, HTW Berlin – University of Applied Sciences, Germany
207. Sergio Rossi, University of Fribourg, Switzerland, Switzerland
208. Milka Kazandziska, Jacobs University Bremen, Germany
209. Luiss Roma, Luiss Roma, Italy
210. Rosaria Rita Canale, University of Naples “Parthenope”, Italy
211. Pier Giorgio Ardeni, University of Bologna, Dept. of Economics, Italy
212. Roberto Veneziani, Queen Mary University of London, United Kingdom
213. Johannes Schmidt, Karlsruhe University of Applied Sciences, Germany
214. Constantin Gurdgiev, Monfort College of Business, University of Northern Colorado, United States
215. Abderrahim Taamouti, University of Liverpool, United Kingdom
216. Muhammad Ali Nasir, University of Leeds, United Kingdom
217. Habib Ahmed, Durham University, United Kingdom
218. Marcus Miller, Department of Economics, University of Warwick, United Kingdom
219. Dario Guarascio, Sapienza University of Rome, Italy
220. Hansjörg Herr, HWR Berlin (Berlin School of Economics and Law), Germany
221. Mark Blyth, Brown University, United States
222. Mario Morroni, University of Pisa, Italy
223. Jesus Ferreiro, Universidad del País Vasco UPV/EHU, Spain
224. Rick van der Ploeg, University of Oxford, United Kingdom
225. Emanuele Leonardi, University of Bologna, Italy
226. José A. Pérez Montiel, University of the Balearic Islands, Spain
227. Pompeo Della Posta, Università di Pisa, Italy
228. Eugenio Caverzasi, Università degli Studi dell’Insubria, Italy
229. Christina Teipen, HWR Berlin (Berlin School of Economics and Law), Germany
230. Jacek Schindler, University of Wroclaw, Poland
231. Yannis Dafermos, SOAS University of London, UK
232. Jakob Hafele, University of Linz, Germany
233. Gustav A. Horn, Universität Duisburg Essen, Germany
234. Deepa Govindarajan Driver, University and College Union, United Kingdom
235. Thorvald Grung Moe, Levy Economics Institute, Norway
236. Michael Roos, Ruhr-Universität Bochum, Germany
237. Maria Nikolaidi, University of Greenwich, United Kingdom
238. Antonio Rodriguez Gil, University of Leeds, United Kingdom
239. Rainer Geiger, University of Paris 1 Pantheon-Sorbonne, France
240. Marc Lavoie, University Sorbonne Paris Nord, France
241. Michel Santi, HEC Paris, Switzerland
242. Wimar Bolhuis, Leiden University, Netherlands
243. Malcolm Sawyer, University of Leeds, United Kingdom
244. Francesco Martucci, Francesco Martucci, France
245. Mauricio Rezende Dias, Lisbon University, Portugal
246. Philippe Quirion, CNRS, France
247. Jacques Généreux, Sciences Po-Paris, France
248. Daniel Mügge, University of Amsterdam, Netherlands
249. David Barkhausen, Institute for Political Science, Heidelberg University, Germany
250. Jens van ‘t Klooster, University of Amsterdam, Netherlands
251. Nikolaos Karagiannis, Winston-Salem State University, United States
252. Servaas Storm, Delft University of Technology, Netherlands
253. David F Hendry, Nuffield College, Oxford University, United Kingdom
254. Kate Raworth, University of Oxford, UK
255. Thierry Mertens, Universidade Nova de Lisboa, Portugal
256. Miquel-Àngel Garcia-López, Universitat Autònoma de Barcelona, Spain
257. Grégoire Wallenbornn, Université Libre de Bruxelles, Belgium
258. Ozlem Onaran , University of Greenwich , UK
259. Francesco Corti, University of Milan, Italy
260. Florian Ranft, Queen Mary University of London, Germany
261. Annamaria Simonazzi, Fondazione Giacomo Brodolini, Italy
262. Olga Mikheeva, University College London, UK
263. Michael Jacobs , Sheffield Political Economy Research Institute, University of Sheffield, UK
264. Lisa Herzog, University of Groningen, Netherlands
265. Dominique Meda, Universite Paris Dauphine, France
266. Same, Isabelle Ferreras , Belgium
267. Rogier Claessen, Utrecht University, Netherlands
268. Hielke Vandoorslaer, Ghent University, Belgium
269. David Rinaldi, David Rinaldi, Université Libre de Bruxelles, Belgium
270. Daniela Gabor, University of West England, Bristol, UK
271. Nik de Boer, University of Amsterdam, Netherlands
272. Mike Doak, University of Cumbria , United Kingdom
273. Amandine Crespy, Université libre de Bruxelles, Belgium
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