A Green Deal for European Cities. Rethinking the Role of the European Stability Mechanism

Abstract

The Covid19-related emergency has changed our perspectives on individual and collective priorities. Two aspects in particular will probably stand out for their impact on the way societies will change and adapt to the transformation required (and induced) by this shock. The first is the need to rethink social, economic, political, and territorial planning in a way that allows a prompt, more efficient, decentralized – but also coordinated – response to exogenous shocks, that transcends current (State-centered) administrative and policy boundaries.The second issue is how to finance crucial local infrastructure that allow such local areas to effectively react to exogenous shocks and challenges. The paper explores the possible use ot the EMS for this purpose.