Eurozone Economy Is Likely To Face Uneven Recovery

Eurozone Economy Is Likely To Face Uneven Recovery

The eurozone economy is likely to face uneven and intermittent recovery despite good news on the development of a coronavirus vaccine. Christine Lagard, the head of the European Central Bank (ECB), said that there was a risk that the recovery could be slow due to consumer concerns. "We are seeing a strong re-spread of the virus and this has brought new dynamism," Lagard said in an introductory speech at the ECB's online monetary policy conference. "Although the latest news and vaccines look encouraging, we can still face recurring cycles of virus spreading and tightening restrictions until widespread immunity is achieved," the ECB chief said. Already at the bank meeting on October 28, Lagard said that there was "little doubt" that the eurozone central bank would decide at the meeting on December 10 to increase the stimulus for the economy. She said that "buying the bonds and providing cheap credit" would probably remain the main tools.