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MNI BRIEF: EZ Outlook Not One Of Incoming Recession: Gentiloni

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(MNI) Brussels

It is still too early to assess the impact of the Ukraine war and sanctions on the euro zone economy and played down the prospects of stagflation, EU Economy Commissioner Paolo Gentiloni said Monday.

Gentiloni told reporters on arrival at the Eurogroup meeting in Luxembourg today that: “the overall picture should not be described as incoming recession - of course there are risks - but there is also plenty of energy in our economies to keep a - very much reduced - level of growth going”.

“We have to look at the data, we have a clear and strong carryover from last year and this is what (will) keep us in positive territory if we look to 2022 as a whole,” the commissioner said.

MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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