Fabio Panetta: ECB will support economy ‘for as long as necessary’

The European Central Bank is determined to pursue a bold monetary policy, for as long as necessary, to support the European economy in its effort to cope with the impact of the pandemic, according to Fabio Panetta, a member of the ECB executive board.

In an interview with Kathimerini, his first with a Greek media outlet since taking office at the ECB earlier this year, Panetta said a hesitant policy stance at this juncture would have the opposite effect.

In response to concerns regarding the return of monetary policy to normal, he stressed that the only way to achieve this in the future is to support the economy dynamically today.

The Italian economist and former deputy governor of his country's central bank also expressed concern that a return to pre-coronavirus levels could be delayed even after the end of 2022.

Panetta, who deals with Greece as the...