Eurogroup meeting, 16 March 2020

Summary:

A meeting of the Eurogroup was held on 16 March 2020, by video conference. Once again it met in its regular format as well as in its inclusive format. The agenda includes the following items:

• Adoption of Statement on the economic policy response to the COVID-19 outbreak;
• Discussion on the state of play of the European Stability Mechanism (ESM) package of reform and the early introduction of the common backstop;
• Update on recent inflation and exchange rate developments in view of the upcoming IMF Spring meeting;
• Discussion of the fifth enhanced surveillance report on Greece;
• Update on the next steps concerning Austria's draft budgetary plan (DBP).

Official

Eurogroup: Remarks by Mário Centeno following the Eurogroup meeting of 16 March 2020 https://www.consilium.europa.eu/en/press/press-releases/2020/03/16/remarks-by-mario-centeno-following-the-eurogroup-meeting-of-16-march-2020/

European Commission: Remarks by Commissioner Gentiloni at the Eurogroup press conference (16 March 2020) https://ec.europa.eu/commission/presscorner/detail/en/speech_20_478

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News

Reuters, 16/03/2020: EU finance ministers to discuss role for rescue fund's fiscal bazooka against virus https://uk.reuters.com/article/idUKKBN2131SB

EurActiv, 17/03/2020: Euro area countries mobilise around €120 billion against coronavirus https://www.euractiv.com/section/economy-jobs/news/euro-area-countries-mobilise-around-e120-billion-against-coronavirus/

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