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European fiscal policy and governance reform in uncertain times 

4th Joint Workshop of European Independent Fiscal Institutions

and the European System of Central Banks

Wednesday, 20 September 2023

European Central Bank, Frankfurt am Main – by invitation only

The workshop is regularly held to provide a forum for fiscal experts from the national fiscal councils, the national central banks and the ECB. The 2023 edition will cover these issues: (i) budgetary transparency; (ii) fiscal policy in a high inflation environment; (iii) the link between fiscal sustainability and stabilisation; and (iv) the ongoing reform of fiscal governance.

Presentation slides will be posted on this webpage after the event. 

Programme
8:30

Registration

8:55

Welcome

Ettore Dorrucci, European Central Bank

9:00

Keynote address
Investing in tomorrow: Future-proofing fiscal policies and governance in Europe

 Fabio Panetta, Member of the Executive Board, European Central Bank

9:30

Session 1
Budget transparency and the costing of fiscal measures

Session chair: Cláudia Braz, Banco de Portugal 

 

Fiscal rules, fiscal councils and budget transparency

Joachim Wehner, London School of Economics

 

Using microsimulations for budget costing

Salvador Barrios, European Commission Joint Research Centre

10:20

Coffee break

10:40

Keynote address
Estimating the financial cost of election campaign proposals

Yves Giroux, Canadian Parliamentary Budget Office 

11:25

Session 2
Fiscal policy in a high inflation environment

Session chair: John Caruana, ESCB Working Group on Public Finance 

 

Government reaction to high inflation

Wolf Reuter, German Federal Ministry of Finance

 

The appropriate fiscal stance for the euro area

Xavier Debrun, European Fiscal Board

 

Fiscal policy and high inflation

Esther Gordo, Independent Authority for Fiscal Responsibility (AiREF), Spain 

12:40

Buffet lunch

13:30

Keynote address
The European fiscal governance framework: Lessons learnt

Lucio Pench, Bruegel

14:15

Session 3
Ensuring sustainability and stabilisation

Session chair: Christiane Nickel, European Central Bank 

 

Fiscal sustainability assessment in the renewed governance framework

Stephanie Pamies, European Commission 

 

The role of debt sustainability analysis across institutions

Philipp Rother, European Central Bank 

 

Sustainability and stabilisation from a fiscal council perspective

Nazaré da Costa Cabral, Portuguese Public Finance Council (CFP)

15:30

Coffee break

15:45

Policy panel
Economic governance reform and the role of the Independent Fiscal Institutions

Session chair: Isabel Schnabel, Member of the Executive Board, European Central Bank 

Panellists:

  • Lilia Cavallari, Parliamentary Budget Office, Italy
  • Zsolt Darvas, Bruegel
  • Era Dabla-Norris, International Monetary Fund
  • Marketta Henriksson, Economic and Financial Committee Alternates 
17:00

Workshop closes

This programme may be subject to change without notice.

General information

Venue

European Central Bank (Main Building)
C2.01/02 (Grossmarkthalle, 2nd floor)
Sonnemannstrasse 20
60314 Frankfurt am Main

Language

English

Transfers

Participants are requested to arrange their own transfers, unless indicated otherwise.

Organising committee
Contacts