Dr. Martin O'Brien:

Specifically for 2022 and 2023, it would be a matter for the Council to decide the degree of flexibility that would be provided. I am sure, in the context of the relatively extreme situation we are now facing, that there will be some degree of flexibility considered by governments in Europe as a result of that.

In general, the Commission has taken this opportunity to reflect on reform of the Stability and Growth Pact, etc. The opportunity we have is to make the framework overall more simple and effective, more cognisant of national economic peculiarities and developments and also more cognisant of some of the longer term issues the Deputy mentioned and to which Dr. Cassidy referred, including the overarching long-term priorities for the European Union overall around energy security, digitalisation and these kinds of issues, in order that the fiscal framework reflects these issues more effectively. Certainly from our understanding, the European Council and the Commission are actively pursuing simplicity of roles and also making them more effective to reach longer term goals. I think that would be a good avenue to take.