Waqt sessjoni tal-Kumitat għall-Affarijiet Ekonomiċi u Monetarji tal-Parlament Ewropew li saret bil-vidjokonferenza, Alfred Sant staqsa lill-Viċi President tal-Bank Ċentrali Ewropew, Luis De Guindos dwar ir-reazzjoni politika u l-interventi tal-BĊE fid-dawl tal-impatt ekonomiku u finanzjarju tat-pandemija.

Alfred Sant innota li aktarx qed nissottovalutaw il-ħsara ekonomika u finanzjarja kkawżata mill-pandemija u staqsa jekk il-BĊE jikkonsidrax l-agħar xenarji possibbli dwar dak li qed iseħħ u kif dawn għandhom jiġu kkunsidrati.

Il-Viċi President kien mistoqsi liema metodoloġija ġeopolitika se juża l-BĊE biex jiddetermina l-qawwa tal-interventi li se jkun qed iniedi u kif il-BĊE jibbilanċja l-linja delikata bejn dawk li għandhom bżonn l-aktar appoġġ u dawk li għandhom bżonn inqas.

Alfred Sant iddikjara li pajjiżi li f’termini sanitarji użaw strateġiji mediċi mill-aqwa u ta’ suċċess, jistgħu għal din ir-raġuni stess, jkunu issa qed jiffaċċjaw tensjoni ekonomika akbar.

Fit-tweġibiet tiegħu, il-Viċi President tal-BĊE qal li gvernijiet differenti malajr se jneħħu r-restrizzjonijiet u l-impatt ekonomiku tal-pandemija se jinbidel filwaqt li l-BĊE ser ikun lest biex jaġġusta l-istrateġija tiegħu skont dak li jiżviluppa.

Huwa enfasizza li hemm livell għoli ta’ inċertezza u mhux il-pajjiżi kollha għandhom l-istess pożizzjoni fiskali. Kien diffiċli li wieħed ibassar x’se jiġri imma l-attività ekonomika tista’ tirkupra  fl-2021.

Waqt l-iskambju ta’ fehmiet fil-Parlament Ewropew li sar wara l-preżentazzjoni tar-Rapport Annwali tal-2019 tal-BĊE, Luis De Guindos qal li l-BĊE kien determinat aktar minn qatt qabel biex jappoġġja l-ekonomija taż-żona tal-ewro u kien lest li jagħmel aġġustamenti għall-miżuri tal-politika monetarja jekk jara li l-iskala ta’ stimolu ekonomiku  tonqos minn dak li hemm bżonn.

 


Alfred Sant urges European Central Bank to support euro zone countries hit by Covid-19 pandemic

During a session of the European Parliament’s Economic and Monetary Affairs Committee held by video conference, Alfred Sant quizzed the Vice-President of the European Central Bank, Luis De Guindos about the policy responses and interventions of the ECB in view of the economic and financial impact of the outbreak.

Alfred Sant noted that we might still be underestimating the economic and financial damage caused by the pandemic and questioned whether the ECB has formulated worse case scenarios about what is happening and how these would be taken into account.

The Vice-President was asked what geopolitical methodology will the ECB use to determine the different magnitudes of the interventions it will be launching and how the ECB will balance a delicate line between those who need most support and those who need it less.

Alfred Sant stated that countries which in sanitary terms have deployed optimal and successful medical strategies, could for that very reason, now be facing greater economic stress.

In his answers, the Vice President of the ECB said different governments are rapidly going to remove the restrictions and the economic impact of the pandemic will change.  The ECB will be prepared to adjust its strategy according to developments.

He stressed that there is a high level of uncertainty and not all countries have the same fiscal stance. It was difficult to forecast what will happen but economic activity could bounce back in 2021.

During the exchange of views held following the presentation of the ECB’s 2019 Annual Report, Luis De Guindos said that the ECB was determined more than ever to support the euro area economy and was ready to make adjustments to monetary policy measures should it see that the scale of the economic stimulus is falling short of what is needed.

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