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MNI BRIEF: EU Dombrovskis: Bar Surprise, Escape Clause To End

(MNI) Brussels

The Escape Clause from the EU’s Stability and Growth Pact would be disactivated as of 2023, at least barring any “major downside surprises”, EU Executive Vice President Valdis Dombrovskis said Monday. Talking to the Economic and Monetary Affairs Committee of the European Parliament, he said the Commission’s fiscal policy guidance to EU states for 2023 would also take into account the state of play of discussions on reform of the Stability and Growth Pact.

The Commission is due to publish that advice at the beginning of March.

“If the economic situation will remain what we are seeing, the General Escape Clause will be disactivated at the end this year,” EU Economic Affairs Commissioner Paolo Gentiloni told the committee.

MNI Brussels Bureau | david.thomas.ext@marketnews.com
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MNI Brussels Bureau | david.thomas.ext@marketnews.com
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