You need to provide more information, such as the age at which you are being offered the benefits below.
For example, the escalation option is much more advantageous for someone taking early retirement at 50 than it is for someone retiring at state pension age - because the annual pension payments would be expected to be rising over a much longer timescale.
A €2,127 pension escalating at 2.5% per annum would surpass a level paying pension of €3,452 after 20 years. The payments would reach €4,352 after 30 years.
It's worth noting that the value of the €2,127 pension is likely to remain the same over the years due to inflation, i.e. you'd be receiving €4,352 after 30 years but could only expect to buy the same amount of goods as you'd buy today with €2,127 (assuming 2.5% inflation).
At the same inflation rate, a level paying pension of €3,452 would probably be worth €1,686 in todays money after 30 years.
Therefore, it's a gamble. If you expect to live longer than 20 years, you should probably choose the escalating option.