The European Commission has today presented legislative proposals to implement the reform of the EU’s economic governance rules. The stated objective of these proposals “is to strengthen public debt sustainability and promote sustainable and inclusive growth in all Member States through reforms and investment”. European Commission President Ursula von der Leyen said: “We need fiscal rules that are fit for the challenges of this decade. The new rules will help reduce high public debt levels in a realistic, gradual and sustained manner. They will also improve national ownership based on common EU rules, and strengthen enforcement. Sound public finances enable us to invest even more in the fight against climate change, to digitise our economy, to finance our inclusive European social model, and to make our economies more competitive”. The proposals “take into account the need to reduce public debt levels”, that have increased significantly also in relation to the crisis triggered by the Russian aggression against Ukraine, and the subsequent energy crisis. They also build on the lessons learned from the EU policy response to the COVID-19 crisis and “prepare the EU for future challenges by supporting progress towards a green, digital, inclusive and resilient economy”. The Commission’s proposals will now be submitted to the EU Parliament and Council.