The European Central Bank rejected a sudden withdrawal of its pandemic-related support for the economy, while the new mutated Corona virus “Omicron” raises confusion and concern for the recovery of the old continent.
The European Central stressed that it will gradually stop buying stimulus bonds worth 1.85 trillion euros next year, but it will maintain the effect by transferring part of the bonds to another support program to buy them.
The 19 European Union countries that use the euro have already experienced an economic recovery, but it has been slow due to the high incidence of infection and death due to the spread of the mutated “delta” from the virus and the shortage of raw materials, and this has hindered the economy that depends on trade and supply chains.