Eurogroup Head Donohoe: Supportive economic policies should remain in place as long as needed

Eren Sengezer FXStreet

Paschal Donohoe, President of the Eurogroup, said on Monday that supportive economic policies should remain in place in Europe as long as needed, as reported by Reuters.

Additional takeaways

"National budgets should be approached in the eurozone in a coordinated manner."

"We want a common approach on the budgetary stance by summer."

"Some business will not be viable in longer-term."

"As the recovery phase is kicking in, we will move to more targeted support measures for firms."

"More discussions on which firms are viable will be in April."

Market reaction

These comments don't seem to be impacting the shared currency's performance against its rivals. As of writing, the EUR/USD pair was up 0.15% on a daily basis at 1.2135.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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