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MNI BRIEF: Euro Area Recover Still On Track: Schnabel

(MNI) LONDON
LONDON (MNI)

Growth this year will be in the same ballpark as the 3.9% forecast back in December, despite a weaker-than-expected first quarter, with the euro area economy back at pre-pandemic levels by mid-2022 European Central Bank Executive Board member Isabel Schnabel said in an interview published Thursday.

However, Schnabel warned the speed of the recovery in the second half of 2021 could be slower than that seen in 2020, as there was a greater risk of economic scarring the longer and more frequent lock-downs become and fiscal policies such as NGEU would be needed to foster the recover, echoing the views of Lithuanian national bank governor Vitas Vasiliauskas in an exclusive MNI interview.

MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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