European Economy Lags China and U.S. on Pandemic Recovery
Bloomberg 1/27/2021 Craig Stirling
(Bloomberg) Europe’s economy is starting to follow the familiar script of lagging its international peers when recovering from a crisis.
That was the upshot of the International Monetary Fund’s forecasts on Tuesday, which downgraded the growth outlook for 2021 across Europe and underscored a generally poorer performance compared with China and the U.S.
Such diverging fortunes reflect the stringency of lockdowns across the euro zone to contain the coronavirus, as well as a late and stumbling vaccination campaign headwinds that threaten to deepen what already looks likely to be a double-dip recession. Political unease over the future leadership of Germany and a crisis in Italy are compounding the gloom.
forecasts
The Davos Agenda 2021: What You Need To KnowIf not for Covid-19, world leaders would be enroute to the Swiss ski resort of Davos to discuss critical issues affecting the globe.
Jan 25, 2021 04:15 PM GMT
However, the main event will now take place in Singapore near the end of May thanks to the coronavirus situation in Europe.
Nevertheless, an online event named ‘The Davos Agenda’ kicks off today till January 29th under the theme “A Crucial Year to Rebuild Trust”.
Who is invited?
I would love a personal invite, but not anybody can attend this prestigious event.
This is reserved for key government, business leaders, financial heavyweights, and heads of states. Major speakers include European Central Bank President Christine Lagarde, Bill Gates, Chinese President Xi Jinping, and many others.
By Reuters Staff
1 Min Read
FILE PHOTO: European Central Bank (ECB) President Christine Lagarde in Frankfurt, Germany, March 12, 2020. REUTERS/Kai Pfaffenbach/File Photo
FRANKFURT (Reuters) - The euro zone’s economic recovery has simply been delayed, not delayed by fresh anti-pandemic restrictions and uncertainty surrounding vaccinations, European Central Bank President Christine Lagarde said on Monday.
“The journey seems to be a little bit delayed but should not be derailed,” Lagarde said.
Reporting By Francesco Canepa; Editing by Balazs Koranyi
Thursday, 21 Jan 2021 09:20 PM MYT
European Central Bank President Christine Lagarde stressed that ‘ample monetary stimulus’ remained essential to steer the 19-nation currency club through the Covid-19 upheaval, and that the ECB stood ready to do more as needed. Reuters pic
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FRANKFURT, Jan 21 European Central Bank chief Christine Lagarde warned today that the pandemic still poses “serious risks” to the eurozone economy as concerns grow about new virus variants and sluggish vaccination campaigns.
The Frankfurt institution’s governing council held back from tweaking its ultra-loose monetary policy at its first meeting of the year, having already ramped up stimulus in December.
The dollar fell for a third straight session on Thursday, with investors seeking out higher-yielding currencies, as a slew of better-than-expected US data and continued optimism about a massive stimulus package spurred hopes of a recovery in the world's largest economy.