Brussels, 23 April 2024 – The European Parliament has voted in favour of new debt reduction rules, which will force many EU governments to take austerity measures and limit their ability to borrow to finance essential climate, environmental and social policies.

Commenting on the vote, Greenpeace EU sustainable finance campaigner Ariadna Rodrigo said: “By choosing austerity, Europe’s politicians are choosing climate chaos and nature destruction. Millions of people are already worried about the future and the cost of living, and now they also have to worry about governments tearing holes in their social safety net to comply with these arbitrary debt rules. The burden of this decision must not fall on the most vulnerable. Governments urgently need to place fair green taxes on the richest and most polluting companies, and to end fossil fuel subsidies, so that we can invest in the well-being of current and future generations.”

Next steps

This is the last step in approving the EU fiscal rules, as EU finance ministers already endorsed the new debt rules in December.


Ariadna Rodrigo, Greenpeace EU sustainable finance campaigner: +32 (0)479 99 69 22, [email protected]  

Greenpeace EU press desk: +32 (0)2 274 1911, [email protected]

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