Vice President of the European Central Bank, Luis de Guindos
SAGARO, Spain (Reuters) – The euro zone economy is still recovering, but faces a new challenge with the increase in coronavirus cases and a new variable, two European Central Bank officials said on Friday.
Global officials and investors on Friday reacted loudly to the new variant of the coronavirus, which was discovered in South Africa, as the European Union and the United Kingdom announced tighter border controls as researchers seek to see if the mutation is vaccine-resistant. .
European Central Bank members Ignazio Visco and Luis de Guindos said the pandemic is once again a cause for concern.
“Uncertainty remains high, mainly reflecting the health situation, which is again becoming a major concern,” Visco, the head of the Italian Central Bank, said at the event.
Visco said the new surge in infections in Europe and elsewhere, which has accelerated in recent weeks, has delayed the “post-Covid outlook”.
De Jindos, Vice President of the European Central Bank, also noted the challenges posed by the new alternative, increasing cases and supply bottlenecks, but adopted a more upbeat tone.
“We have a distinguishing factor, which is vaccination,” de Guindos said at an event in Spain. “So I think the impact on the economy will be limited, I’m relatively optimistic.”
He added that the economy has shown resilience to the pandemic and is expected to grow by about 5% this year and strongly next.
(Por Giuseppe Fonte and Giulia Segretti)
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