Eurogroup: fiscal support and recovery funds essential for recovery

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03 November 2020Today's Eurogroup dedicated on the impact of the coronavirus on the European economy.

"The recent acceleration in the spread of the Covid-19 virus and the new containment measures have further increased uncertainty and are likely to weigh on the recovery. The Eurogroup is closely monitoring health developments and monitoring impacts and economic prospects. We will continue. to coordinate and vigorously implement, at all levels, ambitious economic policies that integrate the health response, protect jobs and anticipate economic recovery, across the continent ": the ministers write in their conclusions.

The Eurogroup considers it vital that

in each member state continues into 2021, given the increased risk of a delayed recovery, and adjusts to the situation as it evolves.

"

need to be agreed and implemented as a matter of priority, allowing for a rapid disbursement of funds in 2021. This is necessary to support adequate reforms and investments and thus support an inclusive recovery. We are confident that the Council and Parliament will achieve an agreement by the end of 2020 ": reads the conclusions. 

At the moment no other details emerge on the first discussion of ministers on the creation of the digital euro, the project presented by the ECB last month.

The meeting was opened by an introduction by the director of the European center for disease prevention and control (ecdc), Andrea Ammon on the state of the virus in the Eurozone.