Moscovici: Refugee crisis could boost EU growth
The refugee crisis could boost the EU’s anemic growth by forcing governments to increase public expenditure, European Economic and Financial Affairs Commissioner Pierre Moscovici has said.
“This is a very emotional crisis and it is a political challenge of high importance, but if I look at the economics and just the economics, I’m persuaded that this can be an opportunity capable of driving 0.2 to 0.3 percent additional growth,” Moscovici said in an interview with CNBC over the weekend.
“Why? Due to the fact that we, especially Germany, have to address the welcoming and the integration of those who are moving away from regimes threatening their lives,” Moscovici said.
The eurozone’s combined government deficit is projected to drop to 1.9 percent of gross domestic product (GDP) this year, from an estimated 2.2 percent in 2015.
You may be interested
Regling: “We are ready to ease the Greek debt”makis - Feb 23, 2018
Technical work has begun to determine whether Greece will need a debt relief after an expected exit from the rescue…
Turkey threatens violence against Italian drill ship anew in Cyprus!makis - Feb 23, 2018
Turkey continued its belligerent stance off the coast of Cyprus on Friday, as it openly threatened violence against the Italian…
Greek PM Tsipras met with German Chancellor Merkel on EU Summit sidelinesmakis - Feb 23, 2018
Greek PM Alexis Tsipras met with German Chancellor Angela Merkel on the sidelines of the Brussels EU Summit, Thursday. According…