Certain expenditure aiming to respond to updated requirements following an earthquake may be exempted from the European budgetary rules, the European Commission announced on Monday 29 August.
"Under EU rules, there are ways to exclude short-term emergency costs in response to major national catastrophes. They can be classified as 'one-offs' and be excluded from the calculation of member states' structural fiscal efforts when assessing the compliance with the Stability & Growth Pact", a...