March 13, 2020 / 12:35 PM / 5 months ago

Ready to suspend fiscal rules amid virus crisis - EU's Dombrovskis

BRUSSELS, March 13 (Reuters) - The European Commission is ready to activate a clause in EU fiscal rules that would allow a suspension of budget commitments by countries most affected by the coronavirus crisis, the EU executive’s vice president said on Friday.

“We stand ready to activate the general escape clause to accommodate a more general fiscal policy support,” Valdis Dombrovskis told a news conference.

“This clause would suspend the fiscal adjustment recommended” and can be triggered in case of a severe downturn, Dombrovskis said. (Reporting by Francesco Guarascio @fraguarascio; Editing by Alison Williams)

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