The euro zone is 'probably past' the worst of the economic crisis caused by the coronavirus pandemic, but the recovery will be uneven, European Central Bank President Christine Lagarde said on Friday.
FILE PHOTO: European Central Bank President Christine Lagarde looks on during a debate on the 2018 annual report of the ECB, at the European Parliament in Strasbourg, France, February 11, 2020. REUTERS/Vincent Kessler
Speaking as fears of a second wave shook investors and the general public across the world, Lagarde struck a constructive tone but urged authorities to use the truce currently offered by the virus to prepare. She cautioned that the rebound would be “uneven”, “incomplete” and “transformational”, meaning some companies in industries such as air travel and entertainment would never recover while others would come out stronger.
The measures, combined with government guarantees on some loans, apparently are bearing fruit, with lending to euro zone companies growing in May at its fastest pace since early 2009, data showed on Friday.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
We're past the worst of coronavirus crisis, ECB's Lagarde saysThe euro zone is 'probably past' the worst of the economic crisis caused by the coronavirus pandemic, European Central Bank President Christine Lagarde said on Friday, while urging authorities to prepare for a possible second wave.
Read more »
ECB's Lagarde says we've probably passed the lowest point of the crisisChristine Lagarde, the president of the European Central Bank, believes the world may be passed the worst of the coronavirus crisis but said a return to the status quo is unlikely.
Read more »
Lin-Manuel Miranda Explains How 'Hamilton' Connects With Black Lives Matter MovementAs Black Lives Matter protests continue across the country, Lin-Manual Miranda revealed that he has seen many protesters take inspiration from his hit Broadway show, Hamilton
Read more »
Big Business Opposes President Trump's New Limits On Foreign WorkersMajor employers say suspending the entry of foreign workers will hurt — not help — the economic recovery. 'For us to remain globally competitive, we need the best and brightest. That's been our secret sauce,' a president of a tech trade group says.
Read more »
Girlfriend Collective Is Donating 100% of the Proceeds From Its New Intimates LineWe're major fans of Girlfriend Collective and its cool, size-inclusive, sustainable activewear, but today, it's launched a new category that we're swooning
Read more »
Eiffel Tower reopens, ending 104-day coronavirus shutdownThe Eiffel Tower has reopened, marking another milestone in France’s recovery from its coronavirus lockdown
Read more »