Lecture by visting professor Dr. Istvan Benczes from the University of Budapest.
The idea of a fiscal union has become the most controversial topic in the discussion of the future of European economic governance. Although both the major EU institutions and the most influential member states advocate some sort of fiscal federalism, there is no consensus even on what Europeans may understand as a fiscal union. Based on the current state of affairs, it will be more than pure rules-based budgeting but (much) less than a US-style fiscal federalism. The talk clarifies what the competing ideas are on the table and whether any of these are feasible. The talk will take a rather skeptical view on the maturity of member states to take more coordinated action in terms of governance and to further delegate their national sovereignty onto a supernational level.
István Benczes is currently Fulbright Visiting Professor at the Department of Central Eurasian Studies and the Department of Economics at IU. He is a habilitated Associate Professor at the Faculty of Economics, Corvinus University of Budapest, where he also acts as Associate Dean for International and Scientific Affairs and Program Director. His main research areas are European economic governance and the economic transformation of Central and Eastern Europe. He is the author of Trimming the Sails: The Comparative Political Economy of Expansionary Fiscal Consolidations, Central European University Press.