1 October 2009, 18:06  ECOFIN: too soon to withdraw support measures

The European Union's tentative economic recovery still needs support from central banks and national governments, Sweden's Finance Minister Anders Borg, who is chairing a meeting of the bloc's finance ministers and central bankers. He said it is too soon to withdraw support measures, since these steps are the main reason the recession seems to be ending. "We are seeing a tentative recovery...obviously there is a need for this expansionary policy to be kept," Borg told a news conference during the policy makers' meeting. He noted that the European Commission's Nov. 3 economic forecasts, which will include an outlook for 2010 and 2011, will help policy makers decide when to withdraw stimulus measures.

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