Is Europe Headed for a Recession? – YPN with Declan Costello

We were delighted to host the first in-person event of the IIEA’s Young Professionals Network (YPN) since 2019. On this occasion, we will welcomed Declan Costello, Deputy Director-General for Economic and Financial Affairs, European Commission. This event took place on Thursday, 10 November 2022 with a complimentary drinks reception beginning at 6.00p.m. followed by a discussion with Declan Costello, moderated by Daire Lawler, Chair of the IIEA YPN, from 6.30p.m – 7.30p.m.

Since 2020, the EU has tackled a confluence of economic shocks, including COVID-19 lockdowns, supply chain disruptions, energy price inflation, and the impact of Russia’s illegal invasion of Ukraine. As the EU responds to these challenges, Declan Costello, Deputy Director-General for Economic and Financial Affairs, European Commission, provided an economic outlook for the EU and assess whether Europe is headed for a recession. He also providd  an update on progress with the implementation of the EU’s Recovery and Resilience Facility (RRF) and is also open to answering questions on the upcoming reform of the EU’s fiscal rules as part of a wider reform of economic governance.

About the Speaker:

Declan Costello was nominated Deputy Director General in DG ECFIN of the European Commission in August 2019. Declan has worked in the Directorate General for Economic and Financial Affairs (DG ECFIN) since 1991. During this time, he worked on the launch of the euro, the Stability and Growth Pact and subsequently the European Semester 2020 strategy. He has been actively involved in the design and implementation of the Recovery and Resilience Facility (RRF of Next Generation EU (NGEU) with particular responsibilities for the plans of Italy, Spain, Greece and Cyprus. Previously, he served as the European Commission’s Mission Chief for Greece where he led negotiations with the Greek authorities on the design and monitoring of policy conditionality underpinning the EFSF and ESM stability programme for Greece. He was also active in discussions that led to later measures agreed by the Eurogroup in 2016 and 2018 to ensure the sustainability of Greek public debt..