Gentiloni: "Suspend tax rules until the end of 2022". "After the crisis, treating debt and investments"

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March 27, 2021 "We must try to give this crisis its right dimension. There has been a very strong and unprecedented response from the European Union to the crisis", says the European Commissioner for Economy, Paolo Gentiloni, speaking at the workshop Ambrosetti "The scenario of the economy and finance".

"I would not underestimate the first part of the answer - he observes -, it is understandable the attention on the Next Generation Eu, on the national recovery plans, but the nature of the EU should lead us to consider the answers that we were able to give immediately are also important. , like the extraordinary purchases program relaunched by the ECB in March last year. The decision to suspend tax rules and state aid was also important: without a timely suspension, we would not have had an immediate economic response from everyone. the European countries, a very massive response and to this is added, thanks to the suspension of state aid rules, an average of 19% of public guarantees, over 3 trillion requests for use ". 

"Suspension of tax rules until the end of 2022"

"We must support the economy to the extent and for the time necessary and suspend the tax rules until the end of 2022".

The European Commissioner for the Economy, Paolo Gentiloni, says this.

"After the crisis, treating debt and investments"

"When the recovery is stronger and the data more certain, I believe it will be essential to address the issue of the prospects of our common economic policy", said the European Commissioner for Economy.

"We will come up with two big problems: an average debt of around 100% or more and a risk of falling investments, in the previous crisis the net ones have approached zero," he explained.

"We must face these two challenges with our rules, how to manage the debt repayment path on the one hand and how to encourage investments if we are serious about these transition plans on the other," added Gentiloni. 

"Recovery, ratification process is unknown"

 "The ratification process is unknown".

This was stated by the European Commissioner for Economy, Paolo Gentiloni, in his speech at the European House Ambrosetti, speaking of the "risks and obstacles" that the European Union may face in the coming months, in particular as regards the Next Generation Eu.

Gentiloni also recalled that "we still need to work on the national recovery plans" but for him "the real risk is the spread of the point of view of returning to normalcy, in terms of common economic policy, because the previous normal worked well. ".

For the European Commissioner "this is an opportunity to build our economy in a different way, change the rules and look to the future".

"I believe that the GDP estimates will be confirmed"

"Let's see if the EU growth forecasts will be confirmed in the next few years or some restrictive measures will modify them but I believe that they will be confirmed overall", said Gentiloni.

GDP growth estimates for the Eurozone are 3.8% in both 2021 and 2022. "We know that support for the economy must continue but we cannot rest on our laurels," added Gentiloni.