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Eurogroup head Donohoe praises ECB for COVID record

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By Reuters
Eurogroup head Donohoe praises ECB for COVID record
Eurogroup head Donohoe praises ECB for COVID record   -   Copyright  Thomson Reuters 2022

DUBLIN – The head of the Eurogroup of euro zone finance ministers, Paschal Donohoe, on Thursday praised the European Central Bank for its actions during the COVID-19 pandemic, saying they had underpinned a strong economic recovery.

“I believe if the ECB had changed its monetary policy guidance in a way that was different to what they have done so far, it could have had an impact on a recovery that has now made a difference to so many,” Donohoe told journalists when asked if the ECB bore some responsibility for the current spike in inflation.

While Donohoe said he shared concerns about the current spike in inflation, he believed that the ECB’s actions helped bring about a recovery in the European Union of a kind that looked “incredibly unlikely” two years ago.”