Germany: ECB must remain euro zone's stabiliser: chief economist Lane
FRANKFURT (Reuters) - The European Central Bank must remain a key stabilizer of the euro zone economy as the bloc is at risk of suffering longer-term damage from its pandemic-induced double-dip recession, ECB chief economist Philip Lane said on Saturday.
A sustained period of low activity reduces labour productivity, weakens corporate balance sheets and saps confidence, leading to a potential downward spiral, Lane said in a speech to the Spring workshop of The European House - Ambrosetti.