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MNI BRIEF: No EU Escape Clause Extension Seen Into 2024

(MNI) LONDON

EU sources tell MNI an escape clause extension into 2024 is unlikely even if no new fiscal rulebook is in place.

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The Escape Clause from the European Union's fiscal rules will be deactivated at the end of next year even if a new fiscal rulebook is still to be agreed, sources have told MNI.

“The hope is that we will have a new fiscal framework in place by then," one source said, but the belief in Brussels is that even if not, it would be hard to see the General Escape Clause remaining in place, with Bruss.els perhaps seeking more targeted flexibility going forward. The Commission must make a decision on the Escape Clause by spring or summer 2023 (MNI BRIEF: States' 23 Draft Budget Plans Must Be Tightened- EC)

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The Escape Clause from the European Union's fiscal rules will be deactivated at the end of next year even if a new fiscal rulebook is still to be agreed, sources have told MNI.

“The hope is that we will have a new fiscal framework in place by then," one source said, but the belief in Brussels is that even if not, it would be hard to see the General Escape Clause remaining in place, with Bruss.els perhaps seeking more targeted flexibility going forward. The Commission must make a decision on the Escape Clause by spring or summer 2023 (MNI BRIEF: States' 23 Draft Budget Plans Must Be Tightened- EC)

Keep reading...Show less