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EurActiv (10 December 2020)

The European Central Bank will unveil fresh stimulus measures on Thursday (10 December) to prop up the recession-hit currency bloc long enough for a coronavirus vaccine to be deployed and its devastated economy to start to heal.

With fresh support measures already promised, only the details of the package remain up in the air. But the bottom line is clear: borrowing costs will be kept close to zero for years so that governments and firms can spend their way out of the biggest recession in living memory.

The ECB’s challenge will be to balance a growing range of short-term risks against improving long term prospects, indicating that its move will be big but lack the “shock and awe” impact of previous crisis-fighting measures.

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