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ECB: ‘Vaccine campaign is crucial for recovery’ – Economy

Fiscal measures to support the real economy by 2020 have protected banks from the majority of their loan losses and will be “critical” to further ensuring credit effectiveness. this aid. However, if on the one hand the European banking sector appears to have enough capital to deal with pandemic tensions, on the other hand “the authorities must be ready for further measures if a Very serious happened “.
The European Central Bank writes this in its 2020 annual report presented today to the European Parliament, in which it cites an analysis of Covid’s vulnerabilities.

The eurozone economy “will see a strong rebound in the second half”, however “uncertainty remains high and recovery will be fragile, with GDP reaching pre-crisis levels. crisis in the second quarter of 2022 “. This was stated by ECB vice president Luis de Gundos, presenting the ECB’s annual report to the Commission on Economic Affairs of the European Parliament chaired by Italian Irene Tinagli. “The success of the vaccination campaign in the entire eurozone – says de Guindos – is crucial to averting downside risks to reality.”


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