The member of the Governing Council of the European Central Bank (ECB), Ignazio Visco, said on Thursday that supply bottlenecks are starting to weigh on the Italian economy and has added that could last longer than expected, as reported by Reuters.
“Household and corporate bank deposits have increased in more than 200,000 million euros, and will decrease as consumption resumes“.
“The European Union should consider joint management of at least the last two years of countries’ debt, with sunk funds to buy domestic bond deals. “
“The pandemic showed limits of the European Union without a common budgetary capacity.”
“Public debt is crucial to counteract the crisis, but it cannot be used to finance current spending.”