Newsroom
Newsroom

16.03 11 Sep 2020


Share this article


Most European countries will not see GDP return to pre-COVID levels by the end of 2021.

That was one of the warnings heard after a meeting of Eurogroup Ministers chaired by Paschal Donohoe in Berlin this morning.

The meeting heard while there was some bounce back economically in July and August, the road ahead is very uncertain.

Finance Minister and Eurogroup President Paschal Donohoe said the seeds of a strong recovery are there.

He said: "We are all aware of the huge apprehension, the great concern that so millions of citizens face and we accept that it will take time and it will take work to undo the damage caused by this crisis.

"We are united in our commitment to do this."

He added that he is confident there will be a strong recovery from the financial implications of COVID.

Following the meeting, he said recovery will be difficult, but can be achieved.

Mr Donohoe said: "There will be no sudden stop, no policy cliff edge, and overall budgetary policy will continue to support the economy.

"This consensus gives me confidence that we can build an inclusive and strong recovery."

Reporting by Seán Defoe

Main image: The President of the Eurogroup, Paschal Donohoe, pictured in Berlin today. Photo: Hannibal Hanschke/REUTERS/POOL/dpa

Share this article


Read more about

GDP

Most Popular

Live: Title

Now playing

00:00:00 / 00:00:00
Added to queue
Removed from queue

On Air

Share

Share


Up next

Episode title
Show
Duration

You currently have no podcasts in your queue.

Go to podcasts

On Air

The Pat Kenny Show

The Pat Kenny Show

09:00-12:00

Share

Up next

LUNCHTIME LIVE

LUNCHTIME LIVE

12:00-14:00

Share

MONCRIEFF

MONCRIEFF

14:00-16:00

Share

THE HARD SHOULDER

THE HARD SHOULDER

16:00-19:00

Share

OFF THE BALL

OFF THE BALL

19:00-22:00

Share

THE TOM DUNNE SHOW

THE TOM DUNNE SHOW

22:00-00:00

Share

BEST OF NEWSTALK

BEST OF NEWSTALK

00:00-06:00

Share

BREAKFAST BRIEFING

BREAKFAST BRIEFING

06:00-06:30

Share

BREAKFAST BUSINESS

BREAKFAST BUSINESS

06:30-07:00

Share

NEWSTALK BREAKFAST

NEWSTALK BREAKFAST

07:00-09:00

Share

THE PAT KENNY SHOW

THE PAT KENNY SHOW

09:00-12:00

Share

00:00:00 / 00:00:00

Share on