(Bloomberg) -- The European Central Bank is restarting its strategic review that will now include a closer look at the impact of fiscal policy in the euro area.
“Fiscal and monetary policy in a monetary union” was added to the work streams that outline the scope of the review -- joining topics such as inflation, digitalization and climate change. It comes just days after European Union leaders agreed on a landmark 750 billion euro ($869 billion) stimulus package that includes a plan to offer joint debt.
Just a few months into the process, the ECB decided in April to postpone the review as policy makers focused on trying to contain the economic fallout from the pandemic. New social distancing rules also forced the cancellation of conferences and events with the general public.
President Christine Lagarde and Chief Economist Philip Lane will now hold their first listening event with civil society organizations in a virtual format on Oct. 21, the ECB said Thursday. National central banks plan their events in the final three months of this year or the first quarter of 2021.
While the review was supposed to be concluded by the middle of next year, Lagarde said earlier this month that the second half of 2021 is more likely “because there’s an awful lot of work that needs to be done.”
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