FinMin Staikouras after Ecofin: 'We have the flexibility we need to deal with the pandemic'
- Written by E.Tsiliopoulos
Finance Minister Christos Staikouras on Monday evening said that "we have the flexibility we need to deal with the pandemic", speaking after the end of a teleconference of EU member states' Ministers of Finance, was carried out via streaming due to COVID-19 precautionary measures.
On the effects of the pandemic to national economy, Staikouras said that "Greece can timely and effectively tackle the (coronavirus) pandemic so that the damage to the economy, which will be significant, can be reversed."
With the Covid-19 pandemic in full fledge, the ministers agreed that the conditions for the use of the General Escape Clause of the EU fiscal framework are met, and justified its activation.
The use of the clause will ensure the needed budgetary flexibility to take all necessary measures for supporting health and civil protection systems.
The clause allows member states to depart from regular budgetary requirements, in order to tackle the economic consequences of the pandemic.
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