• ECB: "The withdrawal of the anti-crisis measures would block the recovery".

    "Italy and Holland most exposed"

  • ECB: "GDP loses momentum, recalibrate tools to support recovery"

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10 December 2020 The European Central Bank has improved its estimate of economic growth for the Eurozone for 2020, bringing it to -7.3% from -8% in September, and worsened that for 2021, to + 3.9% from + 5% previously compared to a fourth quarter "with a new, significant contraction, even if lower than that of the second quarter, due to the intensification of the containment measures".



This was announced by the president of the ECB, Christine Lagarde.



The estimate for 2022 is 4.2% and for 2023 + 2.1%.

"The risks remain on the downside due to the implications of the pandemic" - Lagarde warned - emphasizing the weakness of the service sector and the fact that the immunizing effects of the vaccine will take time.



In the fourth quarter, Eurzone GDP contraction -2.2%

The GDP of the Eurozone is expected to contract by 2.2% in the fourth quarter "with a drag effect also on the first three months of 2021".

ECB president Christine Lagarde said this at a press conference. 



At the end of 2021, the Eurozone will have sufficient herd immunity to get the economy back to functioning normally

At the ECB "we have decided to extend the Pepp anti-crisis pandemic purchasing program for nine months" simply because we must be very attentive to the scientific literature "and on the basis of scientists' forecasts on the spread of Covid vaccines "we have good reason to believe that by the end of 2021 we will have achieved sufficient herd immunity" so that the economy can "return to normal functioning, especially the service sector", he later said. Christine Lagarde in the press conference at the end of the Governing Council.