Speaker: Oscar Arce, Chief Economist, Banco de España
Covid-19 hit Spain just as it was recovering from a recession. The country’s GDP increased 2% in 2019, but the pandemic has put Spain’s industry and healthcare sector under huge strain. Oscar Arce, chief economist at Banco de España, discusses the European Central Bank’s decision to extend its bond purchasing programme, the likelihood of ‘coronabonds’, and Spain’s response to the crisis.