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Europe’s pandemic debt burden is large but sustainable, the ECB’s chief economist says

French economist Benoît Cœuré (L) and Irish economist Philip Lane (R), Members of the Executive Board of the ECB

Summary List Placement

  • European governments are spending trillions to protect their economies against the coronavirus pandemic, but their debt burden is sustainable, according to European Central Bank chief economist Philip Lane. 
  • “Yes, there will be more public debt at the end of this, but in fact that is the correct response to this type of pandemic emergency,” Lane told Portuguese broadcaster RTP3 in an interview on Monday.
  • Low interest rates in the eurozone mean the cost of payments on this debt burden will be contained for years to come, Lane said.
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