Free Trial

BRIEF: Eurogroup Chief Says Ukraine Denting Growth Momentum

The war in Ukraine is denting eurozone growth momentum and exacerbating inflationary pressures, but the economy remains resilient, Eurogroup Chief Paschal Donohoe said in a letter to EU leaders ahead of their Mar 24-25 Summit in Brussels.

“These negative impacts come through several channels – energy supply and energy prices are a key factor, but confidence effects, financial flows, and supply disruptions are among the many other factors,” Donohoe said in the later dated Friday but released on Monday, adding that “we must reassure our citizens that our policy response will continue to be strong and united and that the economic recovery is underpinned by strong fundamentals and a clear improvement in the epidemiological situation.”

MNI Brussels Bureau | david.thomas.ext@marketnews.com
MNI Brussels Bureau | david.thomas.ext@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.