MNI BRIEF: Next 18-24 Months Crucial - ECB's De Guindos

September's Eurosystem staff macroeconomic projections will show that Europe's economy has performed better than previously expected, ECB Executive Board member said in an interview published Wednesday, with the next 18-24 months to be "defined by attempts to leave the economic consequences of the pandemic behind us and to minimise its structural impact."

De Guindos would not be drawn on the future of PEPP, but said some of the short-term impact of the Covid-19 crisis have been successfully mitigated. However, negative structural effects remain for both the European and world economies - including possible scarring in the jobs market and increased inequality.

"Future monetary policy decisions will essentially depend on how the economy and inflation develop in the coming months," he said adding that the "emergency [purchase] programme is linked to the pandemic and its economic consequences. But one thing is clear: recent data are very positive," he said.