Coronaios: Christine Lagarde on vaccines and Europe’s economic future

The President of the European Central Bank, Christine Lagarde, at the beginning of the annual Central Bank Forum, announced a new package of interventions in the secondary market, which will be announced next month. But at the same time, she tried to “land” those who The coronavirus vaccine will immediately bring about a recovery in the European economy. In particular, Christine Lagarde warned that even with the arrival of an effective vaccine, the economic recovery in the eurozone risks being “unstable”, as it will “Although the latest news about the vaccine seems encouraging, we may continue to experience repeated cycles of virus spread and restrictive measures until broad-based immunity is achieved.” So the recovery will not be linear but rather volatile, with pauses and “restart, depending on the development of the vaccine,” Laga said rd in Frankfurt, according to CNBC. Ms Lagarde added that European policy needs to be adapted to the current situation. Central Bank Klaas Not told CNBC: “Having a vaccine is absolutely good news, but turning good young people into tangible positive results for the economy will take time and will not happen overnight.” “Mass vaccination It will take a certain amount of time, which means that by 2021 there will be enough ups and downs until the vaccination results spread. ”What changes in December? Lagarde hinted that the European Central Bank is likely to further reduce lending costs for banks that in the coming weeks, we will have more information on which we will base our decision to restructure the economy, including information on the success of the new lockdown measures in reducing the virus but also more clarity on budget plans and vaccine development prospects, “Lagarde said. PEPP and Bank Liquidity Transactions (TLTROs) have proven to be effective tools in the current environment and can be dynamically adapted to respond to how the pandemic will develop. Follow it on Google News and find out all first the News See all the latest News from Greece and the World, at

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *