⁍ ECB expects the bloc’s economy to return to its pre-crisis level by the end of 2022.
⁍ Panetta said this projection was now at risk, a comment likely to reinforce expectations that the ECB will expand its stimulus efforts in December.
– The second wave of avian flu is threatening to derail the recovery in Europe, a European Central Bank board member told a Greek newspaper. “The return to more stringent containment measures that we are observing in a number of euro area countries may push this horizon even further away,” Fabio Panetta told Kathimerini, per Reuters. “This reinforces the need for prolonged economic support from macroeconomic policies.” The ECB is expected to expand its stimulus efforts in December.
Source: https://www.reuters.com/article/ecb-policy-panetta/pandemic-wave-risks-delaying-euro-zone-recovery-ecbs-panetta-idUSKBN2720MB