MNI BRIEF: Ample Fiscal Support Still Needed, Eurogroup To Say

Euro Area finance ministers are set to agree the main messages for the ongoing coordination of their medium-term fiscal policies, releasing a joint statement following the Eurogroup's video conference on Monday, sources tell MNI. "While (support) should be reduced and become more targeted as the health situation improves, consolidation should wait until recovery is firmly underway," a source said.

"The common understanding serves to make sure that the mistakes of the past, such as the premature withdrawal of fiscal stimulus in 2011, are avoided, but also to get the more profligate countries to acknowledge that the party will be over at some point," the source said.

On Wednesday, an MNI sources story highlighted talks between Paris and Berlin over future fiscal rules, with suggestions Germany may be relaxing somewhat its previous tough stance on balanced budgets