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

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.”

  • Coronavirus: Japan infection rate has picked up since Feb. 12
  • Coronavirus peak expected late February: medical advisor - Global Times
  • Chinese health authorities confirm 1,886 new cases of coronavirus, and 98 new deaths as of Feb 17

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