European Central Bank (ECB) Governor Christine Lagarde said the eurozone economy is expected to recover faster in the summer, but said authorities are facing a difficult task of lifting emergency relief measures.
In an interview with the French newspaper Le Journal du Dimanche (JDD), Lagarde said he was confident that the euro area could move forward with digitization and greening to better escape from the coronavirus crisis. He urged governments to accelerate spending planning efforts and said the European Commission could begin issuing joint bonds.
ECB President Lagarde
–
“I’m still confident that 2021 will be a year of recovery,” Lagarde said. “The economic recovery is slow, but we’re not stiff. People are clearly waiting.”
The ECB expects economic growth this year to be close to + 4%. Lagarde said that if the support measures were not completed too soon, it would still be possible, but it also depends on the status of the corona vaccine.
Eurozone GDP fell 0.7% quarter-on-quarter last October-December-not as low as expected
—
He acknowledged that the ECB’s € 1.85 trillion pandemic emergency purchase program (PEPP) was “appropriate” and had a “reasonable” maturity, policymakers said. We will act as long as the pandemic is causing a crisis in the euro area. ” On the other hand, he said, “After the pandemic is over and the economic crisis is over, there will be a situation that requires careful response.”
news-rsf-original-reference">Original title:
ECB’s Lagarde Sees Summer Recovery, Tricky Post-Pandemic Phase(Excerpt)
– .
