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Eurogroup chief says debt can’t be reduced without solid recovery

EU Commissioner for Economy Paolo Gentiloni holds a news conference after a virtual Eurogroup meeting at the European Council in Brussels

BERLIN (Reuters) – The Eurogroup of euro zone economies is committed to keeping an eye on sovereign debt sustainability but exiting coronavirus economic aid too early would only jeopardise the recovery, the bloc’s chief told the Frankfurter Allgemeine Zeitung.

“Without a solid recovery, the debt cannot be reduced,” Paschal Donohoe told the newspaper in an interview published on Friday.

Turning to a taxation on digital corporations, he added: “The goal remains to reach an agreement by the summer. The chances have improved considerably since the new American administration took office.”

(Writing by Paul Carrel, editing by Kirsti Knolle)

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