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European Central Bank officials say eurozone economy at risk of new coronavirus outbreak


Vice-President of the European Central Bank, Luis de Guindos

SAGARO, Spain (Reuters) – The eurozone economy is still recovering, but faces a new challenge with rising coronavirus cases and a new variable, two European Central Bank officials said on Friday.

Global officials and investors reacted strongly to the new variant of the coronavirus, which was discovered in South Africa on Friday, as the European Union and UK announced tighter border controls as researchers are looking to see if the mutation is resistant to the vaccine. .

European Central Bank members Ignazio Visco and Luis de Guindos said the pandemic was once again a cause for concern.

“Uncertainty remains high, mainly reflecting the health situation, which is once again becoming a major concern,” Visco, head of the Italian Central Bank, said at the event.

Visco said the new wave of infections in Europe and elsewhere, which has accelerated in recent weeks, has delayed the “post-Covid outlook.”

De Jindos, vice president of the European Central Bank, also noted the challenges posed by the new alternative, increasing cases and bottlenecks, but adopted a more optimistic tone.

“We have a distinguishing factor, which is the vaccination,” de Guindos said at an event in Spain. “So I think the impact on the economy will be limited, I am relatively optimistic.”

He added that the economy has shown resilience in the face of the pandemic and is expected to grow by around 5% this year and strongly next year.

(Por Giuseppe Fonte and Giulia Segretti)


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