The coronavirus is scaring Europe, the Eurogroup is asking for budget support in 2021 as well



In the shadow of the new lockdowns, the European finance ministers are meeting, where the first meeting of the Eurogroup today (tomorrow ECOFIN) examined the latest health data and the deterioration of the financial outlook in order to recalculate Brussels’ response to the health crisis in the near future. The Eurogroup, as stated in the announcement of the ministers, considers it vital to continue the budget support in each Member State until 2021 given the increased risk of delayed recovery and to adapt to the situation as it evolves. released its autumn, economic estimates for all 17 member states of the European Union, with information indicating that forecasts show a decline for the fourth quarter of the year. in response to the pandemic crisis, while expressing their condolences in France and Austria. In particular, the Eurogroup notes that it is and adapt to the situation as it evolves It is stressed that the recent spread of the pandemic and the new containment measures have further increased uncertainty and are likely to affect the recovery, stressing that the Council is closely monitoring health developments and economic impacts. in progress, Europe is now better equipped to withstand the economic downturn. In April, the Eurogroup reached an agreement on three safety nets to be implemented by the European Commission, the European Investment Bank and the European Stability Mechanism for a total of € 540 billion. The fiscal measures implemented nationally in 2020 amount to 4% of GDP. In addition, it states that the European Council agreed in July on the next generation European plan with a fund of 750 billion euros. This is at the heart of the EU recovery strategy and, according to the ministers, is the only opportunity for reform and investment required at Member State level, including those supporting green and digital transitions. Commitment to continued co-operation to facilitate the next generation EU plan and adds that these should be agreed and implemented as a matter of priority, allowing the rapid disbursement of funds in 2021. Follow it on Google News and be the first to know all the news See all the latest News from Greece and the World, at



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