Lagarde, ECB President: "The COVID-19 Economic Crisis Has Passed Its Lowest Point"

[Image source=Yonhap News]

[Asia Economy New York=Correspondent Baek Jong-min] Christine Lagarde, President of the European Central Bank (ECB), claimed that the economic crisis caused by the novel coronavirus infection (COVID-19) has passed its worst phase.

According to AFP and other sources, President Lagarde said this at an online conference held that day. She stated, "We will not return to the previous state. (The situation) will change," emphasizing that the recovery will be incomplete and accompanied by changes. President Lagarde also expressed concerns that COVID-19 could resurge.

Earlier, on the 19th, President Lagarde predicted during a video conference with European Union (EU) leaders that the EU economy could contract by 8.7% this year and is expected to record about a 13% negative growth in the second quarter.

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