Christine Lagarde: Economic recovery in Eurozone is “Uneven, incomplete and asymmetrical”
EU governments and ECB have more to do to overcome crisis, Lagarde says
Europe’s recovery from a deep recession is incomplete and uneven so there is no room for complacency by governments or the European Central Bank, ECB President Christine Lagarde said on Friday.
“This current moment is coined by this uneven, incomplete and asymmetric recovery that we have observed in the third quarter after a very catastrophic second quarter,” Lagarde told a press conference after meeting European Union finance officials.
“No complacency! Our accommodative monetary policy needs the support of fiscal policy, and none of us can afford complacency in the present time,” she added.
ECB’s president Lagarde: Outlook surrounded by a lot of uncertainty
Economic recovery in Eurozone is uneven, incomplete and asymmetric
Can’t afford complacency, fiscal efforts needed
Second wave of COVID adds to uncertainty
The economic recovery in the euro area is uneven, incomplete and asymmetric, Christine Lagarde, President of the ECB, said on Friday, as reported by Reuters.
“The second wave of COVID adds to uncertainty,” Lagarde added. “There should be no complacency.”
These comments don’t seem to be having a significant impact on the shared currency’s performance against its rivals. As of writing, the EUR/USD pair was up 0.42% on the day at 1.1862. Meanwhile, the Euro Stoxx 50 Index is down 0.55% at 3,295.