EU
ECB's De Guindos says #Coronavirus outbreak creates uncertainty
Speaking at a conference in Athens, Luis de Guindos said that inflation “will hover at the levels we have now”, but wage growth of above 2% should also be taken into account.
De Guindos added that the outbreak of the coronavirus is among factors that create uncertainty over the global economy’s outlook. The virus has created alarm because it is spreading outside China, including in Europe.
On Greece, a country which emerged from international bailouts in 2018 after a decade-long crisis that rocked the euro zone, De Guindos said that the economy is “on its way for normalisation”.
Greek fiscal policy is now “in a much sounder basis than before” but banks’ non-performing loans were still a “soft spot”, he said. All instruments must be used to help reduce them, he said.
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