Klaus Regling, the managing director of the European Stability Mechanism, said the European Union economy doesn’t need more fiscal stimulus and the bloc’s recovery fund is on track to make its first disbursements on time this summer.
Regling said policy makers at the International Monetary Fund’s spring meeting this month had praised EU efforts to support the economy and he highlighted that the loan-guarantee programs used widely in Europe has supported bank lending equivalent to 17% of Gross Domestic Product.
