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MNI BRIEF: EC Head Confirms Nat'l Escape Clause Activation

EU Commission chief says clauses could generate €650bn of fiscal space over four years

MNI (LONDON) - European Commission chief Ursula von der Leyen confirmed Tuesday that national escape clauses from the bloc's fiscal rules would be activated in order to create fiscal space for EU states to boost their defence spending.

Von der Leyen said that if states used the extra room to boost defence spending by around 1.5% of GDP on average across the EU it would generate €650bn of fiscal space over four years.

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MNI (LONDON) - European Commission chief Ursula von der Leyen confirmed Tuesday that national escape clauses from the bloc's fiscal rules would be activated in order to create fiscal space for EU states to boost their defence spending.

Von der Leyen said that if states used the extra room to boost defence spending by around 1.5% of GDP on average across the EU it would generate €650bn of fiscal space over four years.

Keep reading...Show less