EU’s Centeno: Eurozone ministers discussed fiscal boost options as virus worries weigh

Dhwani Mehta FXStreet

The Chairman of Eurozone finance ministers (Eurogroup) Mario Centeno told a news conference late Monday, the bloc’s finance ministers discussed ways to roll out a more growth-friendly fiscal policy mix on Monday amid growing economic slowdown risks, in the wake of the coronavirus epidemic.

Key Quotes:

“While some ... risks (to growth) have receded slightly, including in the case of Brexit and trade tensions, the recent outbreak of coronavirus is a reason for concern and one which we will need to monitor closely.”

“The slowdown is still with us and we have agreed to coordinate any need for a further policy response.”

According to Reuters, a document the finance ministers discussed, which is to be published on Tuesday, cited: “If downside risks were to materialize, fiscal responses should be differentiated, aiming for a more supportive stance at the aggregate level.”

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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