La costituzione finanziaria europea e il paradigma di Pangloss

Abstract

The European financial constitution and the Pangloss paradigm – The paper addresses the innovations that have been brought to the European financial constitution as a result and consequence of the Pandemic. In particular, the author first analyses the emergency measures adopted in the early 2020s, such as the so-called Sure Plan. It then goes on to analyse the role played by monetary policy and the Transmission Protection Instrument introduced in the course of 2022, Next Generation EU and the European Commission's proposal for reforming the Stability and Growth Pact. The article concludes with some observations on the truly innovative character of these changes, compared to the original financial constitution model designed in Maastricht in the early 1990s.