«We must make bold and courageous decisions at all levels so that the shock caused by the coronavirus does not create permanent damage to our economies. Member States must feel free to take measures to support the sectors most affected and people. We will grant maximum flexibility on the Stability Pact and State aid “. And on our country: “We are absolutely ready to help Italy with everything it needs, right now it is severely affected by the virus, we support everything it needs and everything it will ask for. The next could be another Member State. ” The President of the EU Commission, Ursula von der Leyen, presented European measures to deal with the coronavirus emergency. With her the two vice-presidents, the Latvian Valdis Dombrovskis and the Danish Margrethe Vestager. The president also warned against the unilateral closure of borders by individual European countries. The Commissioner for Economy Paolo Gentiloni was not on the stage even though his contribution was fundamental in the communication of the EU Commission on the flexibility of the Stability Pact.
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Single market
“The pandemic is putting people to the test
– said von der Leyen – it is a shock to our economies. The EU can cope with this situation and each Member State must take responsibility. Even those with a low degree of spread of the virus must intervene “. Von der Leyen explained that the EU is working to provide an adequate supply of the necessary medical equipment.
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“We are working with the Commissioner for Industry Breton. The single market must work. Solidarity between Member States is needed. It is not good when Member States take unilateral measures because this causes domino effect and prevents material for which there is an urgent material from reaching patients and hospitals. ” On travel within the EU, he explained that “some checks may be justified but a general travel ban is not considered effective by the WHO and has a significant social and economic impact, as well as upsetting the life of businesses and people. The measures taken must be proportionate “.
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Stability pact
The communication of the EU Commission on the flexibility of the Pact explains that “the EU Commission is ready to propose to the Council to activate the crisis clause to accommodate more general fiscal support. This clause, in cooperation with the Council, will suspend the budgetary adjustments recommended by the Council in the event of a severe recession in the euro area and the EU “. Vice President Dombrovskis explained that the expenses incurred to fight coronavirus could be separated from the structural deficit. “I would not speak of fiscal stimulus – he said – but of response to the current crisis: we use flexibility to allow States to finance the health emergency, support businesses and people affected by the economic consequences of the coronavirus crisis, in this sense c is a stimulus, but our task now is to face the emergency ». “We are not suspending the Stability Pact – he specified – but using all the flexibility inherent in the pact. Hopefully it’s a temporary shock. Companies must be given liquidity, especially SMEs. Temporary shock must be prevented from lasting. We must not lose production flexibility ».
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