'The ECB can do everything, decision in weeks'

 "We can do everything, what we will do I do not know and even if I did I would not tell them. It is a decision that we will make in the coming weeks based on the data we will have".

This was stated by Fabio Panetta, member of the executive committee of the European Central Bank, interviewed at the Festival dell'ottimismo del Foglio.

The data on the progress of the pandemic and the impacts it is having on the economy will serve to "define the scope of our measures". 

"The latest news on the pandemic front and the impact on the economy are not positive, as early as the summer months, from September, there were signs of a slowdown. At this point with the resumption of infections, with the introduction of distancing measures and containment, with targeted lockdowns in some countries it is inevitable that there will be an impact on the economy, on demand and therefore on inflation ", explained Panetta.

    For this reason, at the meeting of the ECB last Thursday, "we assessed the need to reshape our policies", postponing the decision on how to act until December because "there is a series of information, data that are materializing in these days ", relating to the contagion, the fiscal response of the States and the impacts on the economy," which are necessary to define the extent of our measures ".