Elisa Ferreira: “It makes no sense to think about austerity”
The European Commissioner argues that in responding to the Pandemic, the focus should be on economic growth and job creation.
Elisa Ferreira argues that in the response to the Covid-19 Pandemic, “It makes no sense to think about austerity and compliance with the Stability and Growth Pact (SGP),” in an interview with Jornal de Negócios. The European commissioner believes Brussels should speed up the State aid.
For Elisa Ferreira, at this point in time, the “historic fall in the European Union’s income demands that we focus on economic growth and job creation”. The Commissioner therefore distances herself from strict compliance with the rules of the SGP, pointing out that in the simplified version of this, “the pace must be maintained but demand must be adjusted.”
The former Vice-Governor of the Bank of Portugal also stresses the need for an increased European budget to “level out disparities”. In addition, the robustness of the national coffers themselves will weigh heavily on the recovery of the economy after the Pandemic, she points out.
