ECB’s Lagarde: COVID may trigger more economic challenges despite vaccine rollout hopes

The coronavirus pandemic may yet trigger more economic challenges despite encouraging news about the prospective rollout of vaccines, European Central Bank President Christine Lagarde said on Thursday.

“It will take time until widespread immunity is achieved, while further resurgence in infections with challenges to public health and economic prospects cannot be ruled out,” she told the bank’s post-policy meeting news conference.

Several drug-makers have published encouraging results for their vaccines to combat the coronavirus and distribution in euro zone countries is expected to start shortly.

But German Chancellor Angela Merkel said on Wednesday that authorities in Europe’s largest economy would not be able to provide vaccines to enough people in the first quarter of 2021 to cause a big change in the pandemic’s course.
Source: Reuters (Reporting by Francesco Canepa; writing by John Stonestreet; Editing by Catherine Evans)