Lessons from Ireland’s economic crisis are shaping the European Union’s economic response to the coronavirus pandemic, Minister for Finance Paschal Donohoe has said in an interview with The Irish Times. Mr Donohoe said there was a “profound difference” in the approach of the EU to the Covid-19 challenge compared to the aftermath of the 2008 global financial crisis. “We have experience in Ireland of what those challenges are,” said Mr Donohoe, who was elected president of the Eurogroup, the powerful body of euro zone finance ministers, this summer. “I think we should only have this kind of common borrowing in dealing with common challenges of this scale,” Mr Donohoe said. That is the case,” Mr Donohoe said.

Source: The Irish Times December 02, 2020 05:16 UTC