Post Covid19: Corporate solvency and adjustment capacity in the euro area in the recovery period

The director of the European Centre for Disease Control (ECDC), Andrea Ammon, updated the Eurogroup on the COVID-19 epidemiological situation (on 10 September 2021).

Ministers followed up with a discussion on the economic situation and exchanged views with the chair of the European Parliament’s committee on economic and monetary affairs, Irene Tinagli.

Paschal Donohoe, President of the Eurogroup

“Our efforts are feeding improved euro area growth prospects that matter for the EU citizens, their jobs and their income.

The decisions of the European Central Bank, the work of the Commission, combined with the coordination of the Eurogroup, are making a difference in the improved prospects that our different institutions are now communicating”

Euro area: managing the uneven impact of COVID-19

The Eurogroup discussed the lessons learned from the uneven impact of COVID-19 across economic sectors and regions. Ministers focused on the implications of the pandemic in the medium-term in terms of policy actions necessary to avoid divergences.

The discussion was supported by a note prepared by the European Commission on the issue of convergence in the euro area.

Corporate solvency and adjustment capacity in the euro area in the recovery period

Following their agreement in previous meetings to monitor solvency and restructuring needs, ministers discussed the solvency situation of the corporate sector and potential measures to facilitate the corporate restructuring and economic adjustment in the euro area in the post-COVID recovery period.

According to Paschal Donohoe, President of the Eurogroup “While we are at a point of recovery, we also acknowledge how much work needs to be done and the work that lies ahead.

We reaffirmed that we will continue to take a supportive stance in helping our economies to recover, but we’ll move from a more general approach to a more targeted one”

Other business

The European Central Bank (ECB) briefed the Eurogroup on the decision of the ECB Governing Council of July 2021 to launch the investigation phase of the digital euro project.