Eurogroup ministers discuss int’l role of euro

Finance Ministers of the 19-member Eurogroup Monday discussed the international role of the euro during their videoconference.

“The aim is to reduce our dependence on other currencies, and to strengthen our autonomy in various situations.

At the same time, an increased international use of our currency also implies potential trade-offs, which we will continue to monitor,” Paschal Donohoe, President of the Eurogroup, said in press statements after the meeting this evening.

“Let me emphasize in conclusion that this discussion is not about rivalling other currencies, but it is instead about increasing the resilience of our own currency and giving our firms and our citizens greater choice and security,” he noted.

Further, the Eurogroup exchanged views on macroeconomic developments and policy prospects in the euro area.

“The Eurogroup continues to engage very closely in the health and economic situation of the euro area. The faster we can overcome this pandemic, the quicker we can deal with its economic consequences,” Donohoe added

Source: Kuwait News Agency