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Support for euro zone economy should stay as long as needed: Eurogroup head

Euro zone finance ministers agreed on Monday that supportive measures for the economy, helping it survive the COVID-19 pandemic crisis, should stay in place as long as needed, the chairman of the ministers Paschal Donohoe said.

Donohoe told a news conference after talks of the ministers that they would work out a common approach on the euro zone’s budgetary stance for 2022 “by the summer”, but that as the recovery gathers pace governments would have to move from blanket support to all companies, to more targeted measures.

He said the ministers would continue talks on how to handle the transition in April, including a more detailed discussion on how to identify companies that are viable and in need of further support and which should be allowed to fail in an orderly way.
Source: Reuters (Reporting by Jan Strupczewski)

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