European Central Bank Vice President Luis de Guindos said on Friday that, despite worry about the new Covid-19 variant, he thinks the impact on the economy will be smaller than in the past, according to Reuters. Luis de Guindos added that he didn't think the economic impact would be comparable to a year or two ago, as the economy has adjusted to pandemic restrictions. 

On the economy, he said that uncertainty is much more elevated than in the past about inflation and that the Eurozone economy should grow about 5.0% this year and then very strongly in 2022. 

Market Reaction

The euro did not react to de Guindos' comments.