Member of the Governing Council of the European Central Bank (ECB) Francois Villeroy de Galhau warned on Monday the economy would not feel the positive effects of the mass vaccination against COVID-19 until the end of 2021, APA reports citing Teletrader.
Villeroy's comments come shortly after his ECB fellow Philip Lane predicted the development of a treatment against the disease would prevent "severe economic scenarios" from happening.
More recently, the Governor of the Bank of France stated the ECB was focused on optimizing finance conditions as a tool for combating the economic crisis caused by the coronavirus pandemic and warned of the danger of cancellations of debts.
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