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Archive » October 2025 » Public financial power: between sovereignty of the State and extension of Eu fiscal capacity

Public financial power: between sovereignty of the State and extension of Eu fiscal capacity

Camilla Buzzacchi
October 2025 - n. 10
Keywords: Debito, fiscalità, bilancio
Jel codes: H63, H30, H60

Public financial power remains entirely allocated to the Member States, but the economic and monetary union established at the end of the last century laid the groundwork for the emergence of a so-called economic governance involving both the national and Eu levels. These are called upon to adopt measures with strong mutual implications, while remaining distinct in terms of their respective responsibilities. Over the past decade, however, there have been instances of intersection and overlap between the prerogatives of each legal system, making it especially timely to reflect on the allocation of fiscal capacity – and to assess whether the expansion of the Union's autonomous role in terms of debt and taxation might herald further developments in Europe's trajectory.

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