In its October 2020 press conference, the ECB President Christine Lagarde indicated that We're not going to just stand still" leading many analysts to expect the ECB to recalibrate its monetary-policy instruments to respond to the second wave of the COVID19 pandemic that has forced a number of major euro area economies into lockdown again. Required: Evaluate critically the decisions taken by the ECB at their December 2020 Governing Council meeting. Note: Your answer should address the following: A summary of the unconventional policies taken by the ECB in recent years An overview of the policies the ECB has already undertaken in the context of Covid19. A review of the decisions taken at the ECBs December 10 meeting (note any additional stimulus measures or any changes to monetary policy instruments or objectives) and comments made by the President at the press conference. The recommended word count for each question is approximately 1,000 words.