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Pandemic wave risks delaying euro zone recovery: ECB's Panetta
The risk that the second wave of the coronavirus pandemic could derail the euro zone’s recovery from deep recession makes ultra-easy monetary policy all the more necessary, European Central Bank board member Fabio Panetta has told a Greek newspaper. The ECB expects the bloc’s economy to return to its pre-crisis level by the end of 2022 - but Panetta said this projection was now at risk, a comment likely to reinforce expectations that the ECB will expand its stimulus efforts in December. “The return to more stringent containment measures that we are observing in a number of euro area countries may push this ... (full story)