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Eurogroup, ready to act on the economy if necessary

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(Teleborsa) – “Le our tax policies they must remain agile and flexible and we are ready to adapt our political position to changing circumstances, if necessary. “The dolar area finance ministers write this in the Eurogroup statement on budgetary guidelines for 2023, underlining that “the fundamentals of the dolar area economy are solid”however with the war in Ukraine “uncertainty has increased significantly”.

For “Member States with high public debt, we agree on the advisability of starting a gradual fiscal adjustment to reduce it, if conditions allow”, writes the Eurogroup again. “This adjustment should be included in a credible medium-term strategy, which continues to promote the investments and reforms necessary for the double transition and to improve the composition of public finances “, adds.

“We must all recognize that what happened last year has led to unprecedented levels of debt in the EU, we have on average an increase and in some countries very high debts and the reduction is necessary. Obviously – said the European Commissioner for Economy , Paolo Gentiloni in the press conference at the end of the Eurogroup – the reduction is related to the circumstances: it can be significant if we have significant growth, while it is less easy if growth is affected. “” But overall I think the goal of debt reduction must be there. Gradual, realistic and not growth killing, “he concluded.

“Given the current uncertainty” already two weeks ago “we made it clear that we will have to reassess the deactivation from 2023” of the general suspension clause of the Stability Pact “on the basis of our spring forecasts, which I will present in mid-May”, added the Eurocommissar.