Finance
Eurogroup Head Donohoe Praises ECB for Covid Record
Published by maria gbaf
Posted on February 11, 2022
1 min readLast updated: February 9, 2026
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Published by maria gbaf
Posted on February 11, 2022
1 min readLast updated: February 9, 2026
Add as preferred source on GoogleDUBLIN (Reuters) – 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.
DUBLIN (Reuters) – 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.”
(Reporting by Conor Humphries; Editing by Leslie Adler)
Monetary policy refers to the actions taken by a central bank to control the money supply and interest rates in an economy to achieve macroeconomic goals such as controlling inflation, consumption, growth, and liquidity.
Inflation is the rate at which the general level of prices for goods and services rises, eroding purchasing power. It is typically measured by the Consumer Price Index (CPI) or the Producer Price Index (PPI).
The European Central Bank (ECB) is the central bank for the euro and administers monetary policy within the Eurozone, aiming to maintain price stability and regulate the banking system.
Economic recovery is the phase of the business cycle following a recession, characterized by an increase in economic activity, including growth in GDP, employment, and consumer spending.
Financial markets are platforms where buyers and sellers engage in the trade of assets such as stocks, bonds, currencies, and derivatives, facilitating capital allocation and liquidity.
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