Here's the video at EuroNews, July 7:
Rolf R. Strauch, Chief Economist at the European Stability Mechanism, said governments "have to create growth" to avoid a possible recession. The global instability poses "high demands" in governments that have to face them with limited fiscal space.
And the transcript via the ESM:
Rolf Strauch interviewed by Euronews
Transcript of interview with Rolf Strauch, ESM Chief Economist
Broadcast on Euronews, 7 July 2026
Interviewer: Méabh Mc Mahon
Euronews: This is quite a gloomy outlook you're presenting here. Tell us more about your findings.
From the perspective of the European Stability Mechanism, euro area resilience is coming under strain. We see, on the one hand, that geo-economic and geopolitical risks are rising. You have security threats, you have energy price disruption, you have financial market volatility and fragmentation in the trading system. On the other hand, you see that this leads to higher demands on governments while the fiscal space is shrinking. And that is what we mean by resilience is coming under strain. Governments need to create fiscal buffers, and they need to create growth....
....MUCH MORE
