Europe on a Spending Spree

Robert Misik in conversation with Philippa Sigl-Glöckner

Europe on a Spending Spree

Is Europe in danger of gambling away its future with new austerity policies?

Austria is under the spell of budget problems and the necessary consolidation policy - which has necessitated severe cuts to the national budget in order to prevent the deficit from exploding. But many European partner countries have similar problems. The European Union has relaunched its „Stability Pact“, which had been suspended for several years. Many EU countries now have to make savings and necessary investments cannot be made. Although Germany has launched a major investment programme and modified the debt brake, there are already heated discussions about budget deficits and national debt in our neighbouring country too.

Economist, podcaster and think tank director Philippa Sigl-Glöckner knows the complexities of national budgets and EU budget policy better than almost any other expert and outlines how the balancing act can be achieved: Namely, mobilising investment, boosting the economy and keeping deficits within a sustainable framework.

Philippa Sigl-Glöckner is a German economist and founding director of the Think tank Future Department - Institute for Macrofinance. She has been a member of the SPD's Economic Policy Advisory Council since 2020. Her work focuses on the further development of Germany's monetary and economic policy. Earlier in her career, she worked for the World Bank and the German Ministry of Finance, among others.

Moderation
Robert Misik, Author and journalist