Lagarde hails EU fiscal-monetary co-ordination
Recovery fund will support economy from 2021, avoiding fiscal tightening once national stimulus lapses, stresses ECB president
European Central Bank president Christine Lagarde has praised the EU’s greater co-ordination between fiscal and monetary policy in tackling the Covid-19 crisis.
This is in stark contrast to the policy mix implemented during the sovereign debt crisis from 2010 to 2012 and during the period 2013 to 2018, Lagarde writes in a blog post published on the ECB’s website on July 23. In these previous episodes, public spending cuts partly offset the ECB’s expansionary policies, hampering the recovery
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