The coming debate about European macroeconomic policy
Fecha: enero 2021
Erik Jones
General escape clause, COVID-19
SEFO, Spanish and International Economic & Financial Outlook, V. 10 N.º 1 (January 2021)
The debate over the deactivation of the ‘general escape clause’ highlights the tension between the need for active fiscal stimulus and fiscal sustainability. Given the damage wrought by COVID-19 and current debt levels in Southern Europe, the decision ultimately taken by the European Commission will be especially impactful on the region.