ECB’s Panetta: This autumn we have the possibility of taking decisions – Politico

Anil Panchal FXStreet

European Central Bank (ECB) policymaker Fabio Panetta crossed wires via Politico during early Tuesday. The policymaker initially said, “Our choice is between going back to the pre-crisis model of economic policymaking and transforming it.

Key quotes (From Politico)

ECB research suggests that if the entire NGEU loan envelope were taken up, the program could raise the public investment-to-GDP ratio in the eurozone by almost 40 percent by 2024. The ratio could even double in some countries.

This autumn, as Europe reviews its economic governance, we have the possibility of taking decisions that will put the recovery and the post-crisis economy on stronger footing by building on these three paradigm shifts. But this will require a new approach.

If we apply the lessons of the pandemic to our economic policy, we can emerge from this crisis with a stronger economy and greater social and political cohesion.

EUR/USD remains offered

The news fails to stop EUR/USD weakness as the quote refreshes intraday low to 1.1799 after publish.

Read: EUR/USD stays sluggish around 1.1800, US Durable Goods Orders eyed

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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