Eurogroup’s Centeno: ‘No efforts will be spared’ to contain coronavirus outbreak

LISBON (Reuters) – Europe’s finance ministers are prepared to implement fiscal measures to support growth across the bloc amid the coronavirus outbreak, Eurogroup chairman Mario Centeno said on Wednesday, adding that “no efforts will be spared”.

“We are monitoring the situation very closely,” he told journalists after a conference call with EU finance ministers.

Without giving further details, he said the fiscal measures would be implemented based on countries’ specific circumstances.

The call was set up to coordinate national responses to the outbreak, Centeno, who is also Portugal’s finance minister, tweeted last week.

After the call, Centeno said there was a “potential impact to growth”, including a disruption of the supply chain.

“We will coordinate our responses and stand ready to use all appropriate policy tools to achieve strong and sustainable growth,” he added.

The spread of the virus raises questions about the EU economy and the management of the European Union’s open-border Schengen area.

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