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Gualtieri, recovery higher than expected but stimulus remains

2020-09-12T13:45:20.954Z


At Ecofin "the common assessment is that a recovery is underway a little higher than expected, even the ECB has revised the data on GDP, but there is also a lot of uncertainty and we start from a heavy figure of a reduction in GDP in the second quarter in all countries. (ANSA)


(ANSA) - BRUSSELS, SEPTEMBER 12 - At Ecofin "the common assessment is that a recovery a little higher than expected is underway, even the ECB has revised the data on GDP, but there is also a lot of uncertainty and we start from a figure heavy reduction of GDP in the second quarter in all countries. For this reason we, like others, have emphasized the need not to interrupt the expansionary policy of support for the economy too soon ", which" it will be necessary to maintain the next year as well ": the minister said RobertoGualtieri at the end of the informal Ecofin in Berlin.

"On this there is consensus, Italy together with others has been determined to support this analysis", he added.


    In particular, at the Eurogroup "many colleagues have stressed that Italy's data are better than expected, Italy is among those that are experiencing a rebound that is felt", said Gualtieri.


    The minister explained that it was "discussed to finalize the entry into force of the backstop (parachute of the bank-saving fund, ed), which is connected to the reform of the Mes treaty, and we agreed on the opportunity to work to have the early introduction of the backstop from the end of next year ".

Moreover, "when it is appropriate to overcome the temporary suspension of the Stability Pact, there will be the need to review the rules that improve its character", said Gualtier, because today there is "too much complication, excessive pro-cyclicality, a non-incentive to investments ".

(HANDLE).


Source: ansa

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