ECB’s De Guindos: Coronavirus will put Europe into a recession
|In an interview with Spanish TV La Sexta channel late Sunday, the European Central Bank (ECB) Vice President Luis De Guindos said that the coronavirus economic impact will put Europe into a recession, adding that it should transitory, however.
Key quotes
“This impact will be very hard and will place Europe into a recession.”
“I believe that the first semester will be very bad. Europe will enter into a recession and this will drag the overall European economy into negative growth rates in the year, but in the second semester I believe we will see positive growth rates for Europe.”
“ECB will act as much as needed to combat the coronavirus’ damaging economic impact and stressed the importance of avoiding a debt crisis in Europe.”
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