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ECB sees 'considerable decline' in euro area activity

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The president of the European Central Bank (ECB) Christine Lagarde said on Thursday that the novel coronavirus pandemic would lead to a "considerable decline" in economic activity in the euro area.

[BERLIN] The president of the European Central Bank (ECB) Christine Lagarde said on Thursday that the novel coronavirus pandemic would lead to a "considerable decline" in economic activity in the euro area.

In an op-ed published in several European newspapers, Ms Lagarde said that as governments imposed containment measures to slow contagion, "a large part of the economy is being switched off... as a result, economic activity across the euro area will decline considerably."

AFP