Home » Draghi in Barcelona: ‘Still far from recovering from the crisis’

Draghi in Barcelona: ‘Still far from recovering from the crisis’

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“We come out of the crisis thanks to vaccines, now we have to maintain an expansive monetary and fiscal policy”. Thus Prime Minister Mario Draghi, speaking in Barcelona at the Cercle d’Economia. “The continuing uncertainty means that the reasons for maintaining an expansionary monetary and fiscal policy remain convincing. Our minimum goal must be to bring economic activity back at least in line with the pre-pandemic trajectory. Only then will we be able to say that we have overcome the effects of “Covid” on our societies and on employment “. «However», adds Draghi, «according to current forecasts it will not be possible to achieve this goal without further efforts. We must therefore act quickly and effectively ». Not surprisingly, he adds, «The global economy is going through a phase of profound changes, including the ecological and digital transition, which will require a reallocation of the workforce. It is essential to maintain favorable conditions of demand in order to guarantee support for workers, who are facing an increasing risk of displacement », observes the premier. «The overall favorable outlook, however, hides some significant risks. Although the pandemic situation seems increasingly under control, we are still far from the end ». So, the vaccines chapter. “Vaccination efforts so far have focused on the rich world. Only 0.3% of the total doses were administered in low-income countries, while richer countries distributed 85% of the total. This difference is not only ethically unfair, it is also very dangerous. As long as the virus continues to circulate freely, there will always be a risk of new variants. One or more of them could be resistant to our vaccines, compromising the success of our campaigns, ”observed Draghi. “We must continue to invest in research, as well as accelerate the commitment to ensure widespread access to vaccines. Supporting our scientists will also put us in a much better situation should we face another pandemic, ”the premier remarked.

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