Copyright

Marco Buti, Alessandro Coloccia, and Marcello Messori

Published On

2023-12-12

Page Range

pp. 191–200

Language

  • English

Print Length

10 pages

11. European Public Goods

  • Marco Buti (author)
  • Alessandro Coloccia (author)
  • Marcello Messori (author)
Chapter of: Financing Investment in Times of High Public Debt: 2023 European Public Investment Outlook(pp. 191–200)
A well-functioning economic union needs a permanent central fiscal capacity. Stepping up the supply of European Public Goods (EPGs) delivered and financed at EU level appears the most promising avenue. EPGs should meet a number of criteria at the intersection of the economic theory of public goods, the theory of fiscal federalism, and EU-specific institutional and political features. The green, digital, and social transition; the supply of critical raw materials; health; security; and defence define the areas where economic, institutional, and political coherence meet. Several issues still need to be addressed before EPGs could be launched at the appropriate scale. However, the ongoing mid-term review of the EU Multiannual Financial Framework provides an opportunity for bringing EPGs to the centre of the policy debate.

Contributors

Marco Buti

(author)
Tommaso Padoa-Schioppa Chair on Economic and Monetary Integration at European University Institute

Marco Buti is Tommaso Padoa-Schioppa Chair on economic and monetary integration at the European University Institute. Until May 2023, he was chief of staff of the Commissioner for the economy and, between 2008 and 2019, Director General for economic and financial affairs at the European Commission. He has written extensively on macroeconomic policy, global governance, and welfare-state reform.

Alessandro Coloccia

(author)
Seconded Expert from Cassa Depositi e Prestiti, the Italian National Promotional Institution at European Commission

Alessandro Coloccia joined the European Commission in 2022 as a seconded expert from Cassa Depositi e Prestiti, the Italian National Promotional Institution. After having worked in the Cabinet of Commissioner for Economy, Paolo Gentiloni, he moved to Directorate-General for Economic and Financial Affairs (DG ECFIN). Previously, he worked for Cassa Depositi e Prestiti from 2019 to 2022 as a policy analyst in the European Affairs department. Alessandro started his career in 2018 as a policy officer in the Municipality of Paris. He hold a cum laude Bachelor of Arts degree in Social Sciences from University College Utrecht and a cum laude Master’s degree in European Affairs from SciencesPo Paris.

Marcello Messori

(author)
Poste Italiane Chair in ‘European Economy and European Economic Governance’ at Università Luiss Guido Carli

Marcello Messori holds the Poste Italiane Chair in ‘European Economy and European Economic Governance’ at the Department of Economics and Finance, LUISS University (expiring at the end of November 2023). He is the coordinator of a group of advisers for the European Parliament and co-coordinator of the ‘Gruppo Europa’ at Astrid Foundation. He has been a visiting Professor at European Universities (Sciences-Po, Paris; Paris-X Nanterre; LATAPSES, Université de Nice) and a visiting scholar at several USA, Irish, and Australian Universities (mainly MIT and Stanford University). He has published more than two hundred and fifty works in Italian, English, French, and German. In recent years, his field of works has focused on the economic governance of the European Union, particularly its financial and economic policy problems. Messori has been the coordinator of national and international research groups, and he has been involved in various institutional activities. In this last respect, he has been president of the Italian Railways company and president of the Italian association of asset management (Assogestioni). Currently, he is president of Allianz Bank.