Are Europe’s banks safe? DW asks Eurogroup President Donohoe
In an exclusive interview with DW, Eurogroup President Paschal Donohoe said he was confident Europe’s banks would weather the current crisis in the sector. He believes regulatory action taken since the last financial crisis has left the banking industry in a much stronger place. He also defended the ECB’s recent interest rate hike, saying such actions are necessary to combat inflation and avoid further difficulties for businesses and households. Donohoe, who serves as Ireland’s Minister for Public Expenditure in addition to his Eurogroup role, also spoke about the crisis afflicting the tech sector and how that is afflicting the Irish and wider European economy.