In their ECOFIN teleconference of 23 March, finance ministers issued a joint statement in which they agreed with the assessment of the Commission that the conditions for authorising use of the general escape clause of the EU fiscal framework have been fulfilled. The escape clause will allow Member States to undertake measures to deal adequately with the crisis, while departing from the budgetary requirements that would normally apply under the European fiscal framework. This represents an important step in fulfilling the Commission's commitment to use all economic policy tools at its disposal to support Member States in protecting their citizens and mitigating the pandemic's severely negative socio-economic consequences. The coronavirus pandemic is a major shock for the European and global economies. Member States have already adopted or are adopting budgetary measures to increase the capacity of their health systems and provide relief to those citizens and sectors that are particularly impacted. These measures, together with the fall in economic activity, will contribute to substantially higher budget deficits.