European Central Bank head Christine Lagarde urged European Union leaders on Friday to quickly agree on a recovery package that would pull the economy from a 'dramatic fall' or risk a change in sentiment on markets, which were expecting a deal soon.
FILE PHOTO: European Central Bank President Christine Lagarde addresses a news conference on the outcome of the meeting of the Governing Council, in Frankfurt, Germany, March 12, 2020. REUTERS/Kai Pfaffenbach
Lagarde addressed EU leaders, meeting by videoconference to wrangle over how to engineer a recovery from the deep recession caused by three months of coronavirus lockdowns in most European countries.“Decisive and effective action by both national governments and European actors has proven its worth: they paved the way for a rebound towards year-end and helped to buy some time. This is reflected in market sentiment, but failure to deliver could lead to a change in that sentiment,” she said.
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