September 13, 2019 / 10:48 AM / 2 months ago

Monetary policy needs fiscal support to counter slowdown - EU's Dombrovskis

FILE PHOTO - European Commission Vice-President Valdis Dombrovskis holds a news conference at the EU Commission headquarters in Brussels, Belgium, June 5, 2019. REUTERS/Francois Lenoir

HELSINKI (Reuters) - The European Union’s top economic commissioner Valdis Dombrovskis said on Friday that monetary policy needed fiscal support from euro zone countries that can afford it to counter risks of an economic slowdown.

“The main conclusion is that monetary policy alone cannot do the trick and we invite countries who have fiscal space to use it,” Dombrovskis told a news conference after a meeting of euro zone finance ministers in Helsinki.

Reporting by Francesco Guarascio @fraguarascio and Jan Strupczewski; Editing by Catherine Evans

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