Thread by @ecfin

"It is clear that this health crisis will take a severe toll on our economies. Behind the market data is the jobs and livelihoods of our citizens. Our policy response needs to match the gravity of the situation." - @PaoloGentiloni, #Eurogroup press conference

#COVID19

"The fiscal measures at national & EU level amount to about 1% of GDP for 2020 and these figures will surely become larger very soon. In addition to this there is the significant impact of automatic stabiliser." - @PaoloGentiloni

#Eurogroup #COVID19

"The liquidity facilities announced- public guarantees and delayed tax collection - add up to about 10% of GDP. In short, decisive action is being taken." @PaoloGentiloni

#Eurogroup #COVID19

"Our job is to replace fear with confidence. The EU can and will rise to this challenge." - @PaoloGentiloni concluded at the #Eurogroup press conference following the meeting on #COVID19

Read the remarks by Commissioner @PaoloGentiloni at the #Eurogroup press conference on #COVID19

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ec.europa.eu/commission/pre…