July 9, 2020 / 11:01 AM / a month ago

EU reconstruction plan should lead to permanent fiscal stability mechanism, says ECB's de Cos

MADRID (Reuters) - The European Union’s reconstruction plan should be the first step towards establishing a permanent fiscal stability mechanism within the bloc, European Central Bank policymaker Pablo Hernandez de Cos said on Thursday.

Speaking at an event held by the Elcano Institute think tank, de Cos said all member states would need EU support to restructure their economies in the wake of the coronavirus pandemic.

Reporting by Nathan Allen and Jose Elias Rodriguez; Editing by Ingrid Melander

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