EU readies measures to help economy as coronavirus hits

This post was originally published on this site
https://i-invdn-com.akamaized.net/trkd-images/LYNXMPEG21184_L.jpg

BRUSSELS (Reuters) – The European Union’s economics commissioner said on Monday the bloc was ready to deploy all possible measures to tackle the impact of the coronavirus outbreak on the European economy, as health risks in Europe were raised to high.

Paolo Gentiloni said there should be a “coordinated fiscal response” from European countries. It “has to be very timely. You can’t take it too early, you can’t take it too late,” he told a news conference in Brussels.

“The EU is ready to use all the available policy options if and when needed to safeguard our growth against these downside risks,” he said.

At the same briefing, the president of the European Commission, Ursula von der Leyen, said the EU’s disease prevention agency had raised its assessment of coronavirus risks in the bloc to high, as the outbreak spread to most EU states.

“The ECDC (European Centre for Disease Prevention and Control) has announced today that the risk level has risen from moderate to high for people in the European Union. In other words, the virus continues to spread,” she told reporters.

Health commissioner Stella Kyriakides said 2,100 cases of coronavirus were confirmed in 18 of the 27 EU states, and 38 EU citizens had died because of the disease.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Add Comment