EU Finance Ministers meeting to discuss the impact of coronavirus on their economies

The Eurozone’s Finance and Economy Ministers are set to meet online on Tuesday to discuss the impact of the coronavirus on the economy.

Ministers of the 19 euro countries are to meet with Andrea Ammon, head of the European Centre for Disease Prevention and Control (ECDC), to discuss the development of the pandemic.

Due to the spike in cases, many EU countries imposed new restrictions limiting public life with a harsh impact on the economy and countries’ budgets.

Earlier this year, the Eurogroup – as the informal group governing the Eurozone’s financial and economic policies is known – together with the other EU member states agreed to a crisis package worth 540 billion euros (628.3 billion dollars), which is now due for review.

Other topics on the agenda include the possible future introduction of a digital euro currency and the situation of the banks faced with the coronavirus crisis, Brexit and climate risks.

Three different Eurogroup meetings are scheduled for the afternoon. First, only the ministers of the 19 Eurozone member states, followed by another meeting together with Croatia and Bulgaria, who want to adopt the euro. Finally, all 27 EU members are to meet.

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