One year since the outbreak of COVID-19: fiscal policy response

Author (Corporate)
Series Details COM (2021) 105
Publication Date 03/03/2021
Content Type

Summary:

Communication published by the European Commission on 3 March 2021, setting out guidance on fiscal measures to address the effects of the COVID-19 (coronavirus) pandemic.

Further information:

The Communication provides guiding principles for the design and quality of the fiscal policy across the European Union (EU). It sets out the Commission's considerations regarding the deactivation or continued activation of the general escape clause. It also provides general indications on the overall fiscal policy for the period ahead, including the implications of the Recovery and Resilience Facility (RRF) for fiscal policy.

This document also confirms the Commission's intention to relaunch the public debate on the EU's economic governance framework, once recovery has taken hold.

Source Link Link to Main Source https://eur-lex.europa.eu/legal-content/EN/ALL/?uri=COM:2021:105:FIN
Alternative sources
  • https://ec.europa.eu/info/sites/info/files/economy-finance/1_en_act_part1_v9.pdf
Related Links
Official
European Commission: Press Release, 03/03/2021: Commission presents updated approach to fiscal policy response to coronavirus pandemic https://ec.europa.eu/commission/presscorner/detail/en/ip_21_884
European Commission: Questions and answers: Communication on fiscal policy response to coronavirus pandemic (3 March 2021) https://ec.europa.eu/commission/presscorner/detail/en/qanda_21_885
European Commission: Remarks by Executive Vice-President Dombrovskis on the updated approach to the fiscal policy response to the coronavirus pandemic (3 March 2021) https://ec.europa.eu/commission/presscorner/detail/en/speech_21_1010
European Commission: Remarks by Commissioner Gentiloni on the updated approach to the fiscal policy response to the coronavirus pandemic (3 March 2021) https://ec.europa.eu/commission/presscorner/detail/en/speech_21_1012

News
Reuters, 03/03/2021: EU should keep borrowing limits suspended in 2022 - Commission https://www.reuters.com/article/idUSL5N2L13IE
Bloomberg, 03/03/2021: EU Set to Prolong Suspension of Bloc’s Budget Rules Until 2023 https://www.bloomberg.com/news/articles/2021-03-03/eu-set-to-prolong-suspension-of-bloc-s-budget-rules-until-2023
EurActiv, 03/03/2021: Commission wants to keep fiscal rules suspended in 2022 https://www.euractiv.com/section/economic-governance/news/commission-wants-to-keep-fiscal-rules-suspended-in-2022/

ESO Records
Communication on the activation of the general escape clause of the Stability and Growth Pact (March 2020) https://www.europeansources.info/record/communication-on-the-activation-of-the-general-escape-clause-of-the-stability-and-growth-pact/

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