• Crisis.The IMF drastically worsens its forecasts for Spain

The President of the European Central Bank (ECB), Christine Lagarde , has expressed her confidence that the world economy seems to have passed the lowest point of the crisis, although she has ruled out an immediate return to the pre-pandemic situation, warning that the recovery will be complex and incomplete without ruling out the risk of a second wave of infections.

"The recovery will be gradual, sequential and moderate," said Lagarde during his speech at the Northern Light forum, where he refused to forecast "a soup of letters like V, L, U or W", limiting himself to warning that it will be " incomplete and perhaps transformative " , referring to sectors such as tourism, leisure or hospitality that will have to adapt to the new reality and to the new sectors that will emerge after the pandemic.

In this sense, the French company has anticipated a significant drop in trade , in what it has described as "a revenge of proximity on mobility", which will have an impact on productivity and perhaps also on what is given more importance. , which the French woman hopes will serve to pay more attention to climate change or women.

On the other hand, Lagarde has highlighted the "massive and diligent" response offered by central banks, ensuring that the ECB will continue to do so in an effective and proportional manner in order to fulfill its mandate of price stability.

"Let's call him doing what is necessary or using all the flexibility, but the mandate is the same, " said the Frenchwoman in memory of the famous expression coined by her predecessor in office, Mario Draghi.

However, the President of the ECB wanted to highlight that "for the first time monetary policy and fiscal policy have gone hand in hand" and has expressed the need for European leaders to take advantage of the situation to give a cooperative, harmonized response and not nationalist to the crisis.

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Know more

  • economy
  • European central bank
  • Christine Lagarde
  • Coronavirus
  • Covid 19

Macroeconomics Lagarde defends the last injection of the ECB to avoid a further recession in the Eurozone

ECB The ECB worsens forecasts for Europe and expects an 8% drop this year due to the coronavirus

Macroeconomics The ECB expands its coronavirus aid plan by 600,000 million and increases the drop by 2020 to 8.7%

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