At the same time, it is essential to push ahead with well-tailored structural measures that will facilitate the reallocation of resources over time to more viable sectors, minimise permanent scarring effects on our economies and support potential growth in the medium term.
Euro area developments and outlook The pandemic and related containment measures will continue to adversely affect euro area economic activity in the short term. Beyond the short term, activity should pick up thanks to the lifting of confinement measures once there is broader immunity, exceptional monetary policy measures, continued fiscal policy support and a rebound in foreign demand.