EU economics commissioner says Paris attacks will not derail recovery

Reuters

PARIS (Reuters) - EU Economics Commissioner Pierre Moscovici said on Saturday that last week's Islamic State attacks in Paris were unlikely to hamper an economic recovery in France and Europe, as previous attacks in Spain and Britain had not had a lasting impact.

His comments stood in contrast to those by European Central Bank Governing Council member Ignazio Visco, who said on Thursday that the Paris attacks that killed 130 people, threatened an already fragile euro zone recovery.

"In Europe, the recovery is taking place ... I do not believe that growth will be weakened by what is currently happening," Moscovici told France Inter radio.

"There have been precedents before, in London and in Madrid a few years ago. In both cases they did not have a lasting impact on growth in these countries," he said.

Moscovici said the European Union had solid fundamentals, citing low energy prices and interest rates as well as a stimulus package introduced by European Commission President Jean-Claude Juncker but stressed that confidence was key.

"It is very important to have confidence in our open societies but also to know how to protect ourselves," he said.

(Reporting by Dominique Vidalon; Editing by Raissa Kasolowsky)