Economic Governance in EU has been significantly impacted by the COVID-19 pandemic, and with the suspension of the Stability and Growth Pact (SGP), window for reforms have become visible. To...Show moreEconomic Governance in EU has been significantly impacted by the COVID-19 pandemic, and with the suspension of the Stability and Growth Pact (SGP), window for reforms have become visible. To understand the implications of the proposed reforms by the EU Economic Governance Review, we conduct a case-study analysis of both COVID-19 Pandemic and the European Debt Crisis of 2009 to understand how efficient these proposed SGP reforms could be. The case-study analysis compares the public expenditures of member states to derive the efficiency of the Excessive Deficit procedure (EDP) under SGP. The author is able to derive limitations pertaining to policy failure in the analysis. Overall, even though the study might identify the subjective relevance of EDP amongst the member states, the procyclical impact of the reforms suggest further discourse in the field.Show less
