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ECB Vice-President de Guindos reports economic uncertainty is rising

European Central Bank (ECB) Vice President Luis de Guindos stated that the increase in new types of coronavirus (Kovid-19) cases in the Euro Zone and the newly detected Omicron variant increase economic uncertainty.

ECB Vice-President de Guindos reports economic uncertainty is rising

Speaking at a financial conference in Madrid, northern Spain, De Guindos said, "The economic situation is surrounded by a high degree of uncertainty… We see that Kovid-19 cases are increasing and new variants are emerging." said.

Stating that high vaccination rates will help Europe better prepare for these risks, De Guindos emphasized that keeping all options open is important for monetary policy.

On the other hand, French Central President Francois Villeroy de Galhau stated that he does not see the new virus variant as too much of a threat to the economy.

In his speech to an online financial conference, Villeroy de Galhau stated that the Kovid-19 outbreak and new variants should be closely monitored, “However, the economic effects of the successive Kovid-19 waves have so far been seen to be less damaging, and this (new variant) is probably the economic outlook. It shouldn't change too much," he said.

ECB President Christine Lagarde told Italian RAI television on Sunday that the Eurozone is better equipped to face a new wave of Kovid-19 or the economic impact of the Omicron variant.

Lagarde stated that there is an obvious concern about the economic recovery of the Eurozone, “However, I believe we have learned a lot. Now we know our enemy and what measures to take. We are all better equipped to respond to a risk like the fifth wave or the Omicron variant.” used the phrase.

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