Euro Area Must Boost Growth While Cutting Budgets, Juncker Says

Luxembourg Prime Minister Jean-Claude Juncker said the euro area must find ways to boost economic growth while tightening government budgets because the region risks economic stagnation.

“In the euro area, we are on the verge of a recession, albeit a technical one,” Juncker, who also heads the group of euro-area finance ministers, told reporters yesterday in Luxembourg. “There’s no alternative to an approach of budget consolidation, but attention also needs to be paid in Europe to a real policy of growth.”