The euro is weaker against the pound and the dollar this morning as Europe’s vaccine programme continues to cause concern over the pace of economic recovery.
President of the European Commission, Ursula von der Leyen, admitted on Friday that mistakes had been made with the rollout. She said that more emphasis should have been put on administering the vaccine rather than just developing it. The vaccine rollout has, so far, reached around 3.5% of the EU population.
Former ECB President, Mario Draghi, has secured preliminary support to form a government in Italy. This comes after the resignation of Giuseppe Conte, who lost support of a small but key coalition party. It is hoped that Draghi will bring stability and tackle the pandemic in Italy.
There will be a series of speeches from European Central Bank officials this week, including President, Christine Lagarde, later today.
