European Central Bank confirms: economy will take two years to recover from crisis

The pandemic situation in the world is evolving in dispersed order: it seems to be slowing down in France but accelerating in other European countries ... and everyone is taking the measures they deem necessary. But a big question remains: how long will the economic crisis linked to the health crisis last? About two years, according to the ECB. Hope for a vaccine in 2021 In an interview that the chief economist of the European Central Bank (ECB), Philip Lane, gave to the newspaper Les Echos on November 22, 2020, we discover that it will be the vaccine, announced as available at the end of 2020-beginning of 2021 which will play an essential role in the recovery of the economy. For now, the ECB is watching closely "the circulation of the virus" and the health measures taken as a result, but especially the change in "consumer behavior". "It is certain that the two phenomena combined will lead to a decline in activity."

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