ECB President: Implementing the required changes is the biggest challenge for...

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Posted on: Wednesday, September 15, 2021 – 11:01 AM | Last update: Wednesday, September 15, 2021 – 11:01 am

European Central Bank President Christine Lagarde said the biggest challenge facing the European economy’s recovery is whether the authorities will implement the changes needed to get the economy off the ground.

And the Bloomberg news agency quoted, today, Wednesday, Lagarde, saying that monetary policy, unprecedented financial aid and the spread of vaccination programs against the emerging Corona virus, led to the recovery of European economies faster than expected.

Lagarde indicated, during her appearance on Bloomberg TV, that the euro zone’s gross domestic product is expected to return to pre-Corona pandemic levels before the end of this year.

Lagarde pointed out that one of the main challenges is how Europe should act to narrow the economic gap between northern and southern European countries, reduce the inequality that the pandemic has increased, and transition to a more environmentally friendly and more sustainable economy.

Lagarde added that the biggest challenge facing Europe is to achieve the needed change, “It is a matter of channeling finance to the right investment and making sure that economies get back in shape with the right structural reforms that will improve the productivity of these economies and that will make them more digitally dependent and more environmentally friendly.”

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