Eurozone to retain fiscal support until pandemic passes

8 October 2020 (Last Updated October 8th, 2020 15:41)

8 October

Francesco Saraceno, Italian economist, shared an article on European Central Bank (ECB) President Christine Lagarde’s plans to retain monetary support until the crisis created by the Covid-19 pandemic is over.

She noted that the policies adopted in the euro area have helped in protecting jobs and increasing productivity.

The support measures should be continued to ensure recovery as new infections are forcing governments to impose restrictions, the article noted.

Germany is the only country in the euro area to have reported a growth although a drop in industrial production was noted last month.

Growth in France is also forecast to stagnate over the last quarter of the year, while other European countries in the south are facing tough conditions as the hospitality and tourism industry is impacted.

Meanwhile, John Ashcroft, economist, shared an article on how the recovery achieved in the US economy in the last quarter is on the verge of collapsing due to US President Donald Trump’s decision to end stimulus talks.

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