European economy is recovering better than we had feared: Scholz

[September 12, 2020] BERLIN (Reuters) - The European economy is recovering much better than many had feared at the beginning of the COVID-19 pandemic, German Finance Minister Olaf Scholz said on Saturday, adding that governments should nonetheless continue to support companies and consumers.

German Finance Minister and Vice-Chancellor Olaf Scholz gives a statement during the second day of the Informal Meeting of EU Ministers for Economics and Financial Affairs in Berlin, Germany September 12, 2020. Odd Andersen/Pool via REUTERS

"The pandemic is not over, but the indicators ... show that the economy is recovering much better than we feared some time ago, and that is something that applies to the European Union as a whole but also to the individual member states," Scholz told reporters at the end of an informal meeting of the 27 EU finance ministers in Berlin.

(Reporting by Michael Nienaber; Editing by Paul Carrel)

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