Economics
ECB’s Rehn Slams ‘Irresponsible’ Standoff Over European Relief
- Finland’s central bank governor speaks in Bloomberg interview
- ECB’s emergency bond program, bank loans in focus for boost
“It’s important that fiscal policy continues to do its job and that’s why the Next Generation EU is of paramount importance for Europe’s economic recovery,” Rehn said.
Photographer: Roni Rekomaa/BloombergThis article is for subscribers only.
European Central Bank policy maker Olli Rehn criticized the political standoff over the region’s pandemic recovery plans, amid mounting concern that central bankers will again be forced to bear the brunt of supporting the economy.
The EU’s 1.8 trillion-euro ($2 trillion) spending package -- an enhanced multi-year budget and the Next Generation EU fund that ECB President Christine Lagarde said last week must be made operational without delay -- are being held up by Hungary and Poland over conditions attached to the cash.