Euro area stability: view from the IMF

The euro area economy has not been spared from the damaging effects of the Covid-19 pandemic. After the first wave, it recovered well, but a second wave and new lockdowns have hampered growth. Philip Gerson, deputy director of the International Monetary Fund’s European department, discusses the effects of the pandemic on the euro area economy, setting out key findings from the IMF’s December report ‘2020 consultation on common euro area policies’.