The European Commission formally proposed on Wednesday 2 June that the general escape clause of the Stability and Growth Pact should continue to apply until the end of 2022, with EU Member States only expected to return to their pre-Covid-19 growth levels in the course of next year.
“The recovery remains uneven and uncertainty is still high, so economic policy must remain supportive in both 2021 and 2022”, said Executive Vice-President Valdis Dombrovskis. He added, “We can confirm...