Fiscal aid, economic curbs needed to save Europe from Covid damages: Lagarde

On Wednesday, European Central Bank President Christine Lagarde said that fiscal spending should be maintained this year and into 2022.

Online, Lagarde said that Eurozone countries must increase their spending in 2021 so that the pandemic of novel coronaviruses does not cause lasting damage to the bloc.

In 2022, the same holds true.

The EU’s “Next Generation EU” spending package, worth €750 billion, should be started now, she said, because some economic restraints may last into 2021.

(With the assistance of various government agencies)

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