July 12, 2024

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Yellen urges EU to spend more on recovery – economy

Yellen urges EU to spend more on recovery – economy

“We all agree that uncertainty is high. In this context, it is important that the fiscal position remains supportive until 2022. In the future, member states need to seriously consider further financial measures to guarantee a stable national and global recovery”: US Treasury Secretary Janet Yellen attended the Eurogroup meeting said. According to Yellen, it is necessary to create an EU budget structure that is flexible enough to allow countries to respond strongly to the crisis and invest, which will not lead to “cyclical economic decisions”.
Yellen praised the next-generation EU as a “historic step towards the depth of the economic and monetary union, which will reduce the likelihood that this crisis will lead to dangerous differences in the EU’s economic decisions.” “Providing current budget support to bail out our economies and investing in all-inclusive recovery does not mean abandoning caution,” Yellen explained. “Long-term financial stability is paramount, and in line with the commitment made by the G20 a few days ago, the minimum tax should be at least 15. This is one of the reasons why we must continue to work together to implement%. “We hope that all EU member states will reach a consensus and that the EU will move forward on this issue,” he added. “We need sustainable sources of income that are not based on further taxation of workers’ wages and increasing economic inequalities that we all seek to reduce. We need to take care not to commit fraud so that it can be open and independent, thus promoting economic growth and business stability.

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