Eurogroup chief tells Kathimerini of need for grants, not only loans

As European countries brace for the economic fallout of the coronavirus pandemic, the president of the eurozone group of finance ministers known as the Eurogroup, Mario Centeno, in an interview with five European newspapers including Kathimerini, has underlined the need for "a suitable mix of grants and loans in the recovery," warning of a new crisis if adequate support is not provided. 

"If we front-load the cost of the crisis, we risk financial stability and fragmentation, and with that, we restart [the] negative cycle," Centeno said, adding that Europe must respond "in a way that does not repeat the second wave of economic problems we had before."

Questioned about the risks of a double-dip recession, where the economy slumps just as it is beginning to recover from a previous recession, Centeno indicated that a recovery fund European Union leaders have agreed to set...