Lagarde warned that Eurozone GDP could fall by 15% due to coronavirus

US, WASHINGTON (ORDO NEWS) — The head of the European Central Bank, Christine Lagarde, said on Thursday to EU leaders that the eurozone economy could fall by 15% in 2020 due to the coronavirus pandemic under the worst-case scenario, a diplomatic source said.

Answering a question about Lagarde’s comments that she made on Thursday during a videoconference of 27 EU leaders, the source said the ECB’s head gave a “gloomy forecast: decline in the range of 5-15%.”

The neutral scenario calls for a 9% reduction in GDP, an official familiar with Lagarde’s comments said.

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