{video}The coronavirus-induced recession is very different from past downturns, and this raises new challenges for central bankers and lawmakers, a European Central Bank board member told CNBC. The current crisis hinges on the services industry, which has almost come to halt since social restrictions were introduced across the world earlier this year. Despite some relief in the summer months as European governments eased lockdowns, many restaurants, bars, cafes, some hotels and most retail outlets have had to close their doors once again as the region fights a second wave of infections. “This services recession may ... (full story)