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EU Debt Instruments and Fiscal Transparency: The Case of the EU Recovery Fund

Author

Listed:
  • Demir Ahmed

    (Bundesrechnungshof, Adenauerallee 81, 53113 Bonn, Germany)

  • Garmann Sebastian

    (Bundesrechnungshof, Adenauerallee 81, 53113 Bonn, Germany)

Abstract

We study the transparency of debts incurred for the EU Recovery Fund. In our opinion, the Recovery Fund lacks transparency at various levels. We find that the Fund implements a hidden transfer scheme that splits member states into net contributors and net recipients. As a result, the national budgets of the EU member states will have to face uncertain future obligations. Finally, we hold that the Fund weakens the European fiscal rules because the debts of the Recovery Fund do not add to the national debt levels. The national debt levels therefore do not show the whole burden.

Suggested Citation

  • Demir Ahmed & Garmann Sebastian, 2024. "EU Debt Instruments and Fiscal Transparency: The Case of the EU Recovery Fund," The Economists' Voice, De Gruyter, vol. 21(1), pages 181-189.
    • Handle: RePEc:bpj:evoice:v:21:y:2024:i:1:p:181-189:n:1004
    DOI: 10.1515/ev-2024-0012
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