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Europe’s next Covid wave may present a new problem for central banks

If the economy takes longer to recover, the return to some form of fiscal discipline will have to be postponed

Europe is in the grip of a virulent, fourth wave of coronavirus disease infections that risks further dampening its economic recovery.

It's unlikely for now that the measures taken by policymakers will have to be as stringent as in 2020, when they shrank the economy by 6%.

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