Warning of slump ahead, Lagarde urges EU to agree recovery deal
BRUSSELS (Reuters) - The European Central Bank’s chief warned EU leaders on Friday that their economies were heading for a “dramatic fall” due to the coronavirus crisis and urged them to agree quickly on a massive stimulus plan that has divided the bloc.
Christine Lagarde told a video-conference summit that the full effects of Europe’s worst recession since World War Two had yet to appear in the labour market and unemployment in the 19-country euro zone could jump to 10% from 7.3% now.