European Fiscal Board report shows uncertainty in euro area economy

EPA/MATTHIAS BALK

A bank employee holds 5,000 euros in 500-euro notes at a Sparkasse bank in Munich, Germany, 3 February 2016. Germany is considering imposing an upper limit on payments in cash as part of its fight against terrorism and money laundering.

European Fiscal Board report shows uncertainty in euro area economy


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The European Fiscal Board published on 25 June its assessment of the general orientation of fiscal policy in the euro area for 2020.
According to the forecasts, the euro area economy is going through a temporary period of weaker growth before picking up again, but they also flag downside risks. In situation of economic and geopolitical uncertainty a neutral fiscal stance is appropriate, the Board concludes.
The European Fiscal Board is an independent body mandated to advise the European Commission on the direction of fiscal policy of the euro area and to evaluate the implementation of the fiscal governance framework.

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