EUROGROUP REVIEWS MACROECONOMIC SITUATION & POLICY PROSPECTS

USPA NEWS - The Eurogroup held a meeting by videoconference on 15 February, euro area finance ministers exchanged views on macroeconomic developments and policy prospects in the euro area. The discussion was based on the European Commission's Winter 2021 Forecast and the latest information on health developments presented by Michael Ryan, World Health Organisation (WHO) Executive Director for Health Emergencies Programme and Bruce Aylward, Senior Advisor responsible for the WHO-China Joint Mission on COVID-19. Ministers also discussed the international role of the euro following guidance of the December 2020 Euro Summit and the publication of the European Commission's communication of 19 January 2021 "The European economic and financial system: fostering strength and resilience". The aim is to reduce the euro area´s dependence on other currencies, and to strengthen its autonomy in various situations, while monitoring potential trade-offs stemming from its increased international use. (Source: European Union)

The discussion was based on the European Commission's Winter 2021 Forecast and the latest information on health developments presented by Michael Ryan, World Health Organisation (WHO) Executive Director for Health Emergencies Programme and Bruce Aylward, Senior Advisor responsible for the WHO-China Joint Mission on COVID-19. Ministers also discussed the international role of the euro following guidance of the December 2020 Euro Summit and the publication of the European Commission's communication of 19 January 2021 "The European economic and financial system: fostering strength and resilience". The aim is to reduce the euro area´s dependence on other currencies, and to strengthen its autonomy in various situations, while monitoring potential trade-offs stemming from its increased international use. Eurogroup ministers also exchanged views on recent developments in the solvency of the corporate sector based on a note prepared by the Commission. They recognised that difficult times could lie ahead as businesses repair their balance sheets and economies restructure due to changing health circumstances. Lastly, the Eurogroup discussed the updated draft budgetary plan of Lithuania for 2021, on the basis of the Commission opinion issued on 21 January 2021, and Minister Keit Pentus-Rosimannus presented the policy priorities of the new Estonian government. Source: European Union