EPICENTER

In RP.pl, Mateusz Michnik, economic analyst at the Civil Development Forum (FOR) and part of the Epicenter network, argued that Poland needs a liberal form of euro-enthusiasm that defends EU membership while ceasing to treat the Union merely as a source of subsidies. Michnik stressed that the benefits of the Single Market far outweigh financial transfers and that Poland’s eventual status as a net contributor should be seen as a success. Drawing on Epicenter’s Alternative EU Budget report, he called for a smaller, more focused Multiannual Financial Framework prioritising the completion of the Single Market, competitiveness and the removal of barriers over redistribution and industrial policy that creates privileged interest groups.

In Kathimerini.gr, the Centre for Liberal Studies (KEFiM), as part of the Epicenter network, presented a study showing that Greece’s “hidden” pension debt – future pension liabilities without corresponding accumulated savings – stands at 403% of GDP. The analysis argues that official Maastricht debt criteria systematically underestimate the real fiscal burden across the EU by excluding these unfunded obligations, with similarly high levels recorded in Spain (496%), Austria (450%) and Italy (429%). KEFiM highlights that countries with capitalised pension systems face structurally lower hidden liabilities and greater fiscal resilience, and calls for wider adoption of funded pension schemes alongside the recognition of pension commitments in official debt figures.

In LaStampa.it, Serena Sileoni of the Istituto Bruno Leoni, part of the Epicenter network, warned that the European Commission’s decision to grant flexibility on energy-related spending risks becoming more than a one-off concession. While the measure responds to Italian requests and allows limited extra deficit spending for the energy transition, Sileoni argued that it signals a growing willingness by the Commission to accommodate national pressures rather than enforce fiscal discipline. She linked the decision to the broader debate on the next Multiannual Financial Framework, noting that Epicenter’s Alternative EU Budget study shows the proposed expansion of EU spending is politically understandable but inconsistent with the Union’s founding logic, raising democratic as well as fiscal concerns.

In TaNea.gr, the Centre for Liberal Studies (KEFiM), as part of the Epicenter network, presented its study “Fiscal Challenges and Prospects: Greece and the European Union,” welcoming Greece’s exit from the European Commission’s list of countries with macroeconomic imbalances while warning against complacency. The analysis highlights Greece’s fiscal turnaround from a 15.4% deficit in 2009 to a 1.3% surplus in 2024, but stresses ongoing pressures from rising pension spending, defence obligations and limited fiscal flexibility. KEFiM underlines that Europe’s high “hidden” pension debt (403% of GDP in Greece) and the lag in private pension savings (€19.7 trillion behind the US) mean that any expansion of common EU borrowing must be accompanied by strict rules, transparency and accountability, with resources directed towards productive investment rather than short-term spending.

In LePoint.fr, Nicolas Marques, Director General of the Institut économique Molinari and part of the Epicenter network, argued that the European Union does not need a record Multiannual Financial Framework of €1,763 billion for 2028–2034. Marques questioned the 39% increase justified by geopolitical, climate and digital challenges, stressing that the EU has expanded far beyond its core mission of promoting the Single Market. Drawing on Epicenter’s Alternative EU Budget study, he noted that spending could be reduced by 13% (€220 billion) by refocusing on essential competences, while warning that new own resources would strengthen Brussels’ fiscal autonomy at the expense of member states and further undermine European competitiveness.

In Linkiesta.it, the Istituto Bruno Leoni, as part of the Epicenter network, argued that pensions should serve as a lever for economic growth rather than merely a source of public revenue. The editorial highlights that Europe, and especially Italy, holds substantial pension savings locked in low-productivity assets, while funded systems in the United States mobilise the equivalent of 150% of GDP compared with only 25% in the EU. Drawing on analysis from the IBL-Epicenter study on the next Multiannual Financial Framework, it notes that only Denmark, Sweden and the Netherlands have successfully turned pension systems into a driver of growth, and calls for greater freedom for pension funds to invest productively, full accountability of fund managers to workers, and the removal of tax disincentives that favour government bonds over productive assets.

In IlFoglio.it, Carlo Stagnaro of the Istituto Bruno Leoni, part of the Epicenter network, argued that the European Commission’s decision to exclude certain energy-related spending from the deficit calculation is a calculated concession rather than a genuine victory for Italy. While the flexibility (up to 0.3% of GDP per year) responds to requests from the Meloni government, the resources may only be used for Green Deal-aligned investments aimed at energy resilience and reducing fossil fuel dependence, not for emergency support or broad relief measures. Stagnaro warned that the measure risks simply encouraging higher public spending and further increasing Italy’s already elevated public debt, reflecting the Commission’s broader tendency to treat increased expenditure as the universal solution.

In Forbes.sk, the European Commission’s proposal for a €1.763 trillion Multiannual Financial Framework (2028–2034) – a substantial increase on the previous period – is examined in the context of higher spending and new own resources that would also affect Slovakia. The article highlights the risks of expanded EU-level taxation and increased fiscal transfers, consistent with the warnings raised in Epicenter’s Alternative EU Budget study, which calls for capping the budget at around 1% of GNI, rejecting permanent new revenue streams, and prioritising competitiveness and the Single Market over an ever-larger central budget.

In Fintag.cz, the Centre for Economic and Market Analyses (CETA), as part of the Epicenter network, warned that the European Commission’s proposals for the 2028–2034 Multiannual Financial Framework risk normalising uncontrolled joint EU borrowing. Analysts including Michael Fanta and Aleš Rod of CETA criticised the planned new own resources and the National and Regional Partnership Plans, which would institutionalise the joint debt introduced under NextGenerationEU without clear limits or exit mechanisms. The Epicenter Alternative EU Budget study recommends capping spending at 1% of GNI, maintaining fiscal neutrality, using common debt only as an exceptional tool, and strengthening competitiveness through deregulation rather than higher spending and new taxes.