ECB Policy Can Still Be Accommodative Even Without PEPP, Villeroy Says

The transcript discusses the European Central Bank's monetary policy, focusing on inflation guidance and the potential exit from the Pandemic Emergency Purchase Programme (PEP) by March 2022. It highlights the importance of maintaining an accommodative policy and the use of various instruments. The discussion also covers fiscal stimulus comparisons between the EU and the US, emphasizing the need for swift implementation of recovery funds and addressing structural weaknesses in Europe.

What does the speaker suggest about the future of fiscal stimulus in Europe?

How does the speaker characterize the fiscal stimulus in France compared to the US?

What are the implications of the speaker's comments on the structural weaknesses in Europe?