Autore
Fabbrini, Federico

Titolo
Regole fiscali e spese per la difesa: l’impatto di Trump sulla costituzione economica europea
Periodico
Diritto pubblico comparato ed europeo
Anno: 2025 - Fascicolo: 3 - Pagina iniziale: 471 - Pagina finale: 494

This article examines the impact of Trump’s return to the US presidency on the European economic constitution. In response to new uncertainties in the transatlantic relationship and the ongoing Russian war of aggression in Ukraine, the EU and its member states have loosened fiscal rules limiting debt and launched a massive defense spending plan. At the European level, the Commission, through "ReArmEU", has encouraged the activation of the national escape clause of the Stability and Growth Pact and simultaneously proposed a special fund, "SAFE" ("Security Action for Europe"), worth €150 billion. This fund, approved by the Council, will allow states who wish to obtain additional loans to accelerate rearmament. At the national level, Germany, the member state that had traditionally advocated fiscal discipline, amended its Basic Law in just one month to authorize unlimited defense borrowing. These changes have led to a shift away from the stability paradigm in the functioning of the EMU, recognizing the importance of security. However, the measures taken by the EU and its member states to increase defense spending reveal a series of problems: by relying on national expenditures, they risk creating profound asymmetries among member countries and waste, without achieving a true deterrent capacity. Therefore, it would be appropriate for the EU to not simply water down fiscal rules but strengthen its central fiscal capacity by establishing mechanisms for "joint" financing of a "common" defense.



SICI: 1720-4313(2025)3<471:RFESPL>2.0.ZU;2-H
Testo completo: https://www.rivisteweb.it/download/article/10.17394/118186
Testo completo alternativo: https://www.rivisteweb.it/doi/10.17394/118186

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