Can European Socioeconomic Governance Be Social Investment Proof?

Abstract

This chapter argues that EU socioeconomic coordination can support social investment. Both the Lisbon Treaty’s main norms and goals and the European Semester’s short-term goals are in line with social investment. This chapter closely scrutinizes the country-specific recommendations (CSRs) stemming from the Stability and Growth Pact (SGP). Whereas this coordination cycle has been criticized for having a one-sided focus on limiting public expenditure, even the SGP at times results in recommendations that encourage social investment. Such recommendations only address a limited number of policies and are communicated to a small number of countries. However, the scope for and the content of social investment recommendations changes from year to year, reflecting that coordination is open to changes. This adjustment capacity provides new opportunities for social investment to further integrate into the European Semester process of socioeconomic coordination, thus building on core social principles of the Lisbon Treaty.