Despite a stronger than expected second quarter, the European Union (EU) must remain vigilant about the Covid-19 pandemic and potential supply bottlenecks, European Commissioner for Economy Paolo Gentiloni said.
Speaking at a press conference on Friday, he also spoke about the risk of growing inflation throughout the EU, “which we consider temporary”, reports Xinhua news agency.
“It is crucial that we keep the macroeconomic policy mix supportive. Of course, transforming this generalised support gradually into a more targeted and selective one, but without thinking that now is the time for restrictive policies. This would be quite dangerous,” he said.
Gentiloni said Europe was “not only looking for an (economic) rebound” but “a sustained and sustainable growth”.
He said 18 national economic recovery plans had been approved so far, with work continuing on the rest.
During a meeting of the eurozone Finance Ministers, they discussed “the uneven impact of COVID-19 across economic sectors and regions”, as well as medium-term policy actions to avoid further divergences.
The Ministers listened to a presentation from the European Centre for Disease Control (ECDC), which confirmed that 71 per cent of adults in the EU had been fully vaccinated.
At the same time, 13 countries had seen an increase in case numbers and some in the number of deaths, the ECDC said.