Lagarde: The mild scenario is already outdated, we are in the middle of the mediocre and the serious, said the Head of the ECB.

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The eurozone economy is likely to shrink by 8% to 12% this year as it struggles to overcome the impact of the colonial pandemic, European Central Bank President Christine Lagarde said today.

The ECB had previously said that the economy could shrink by 5% to 12%, but Lagarde, in dialogue with young people, said the “mild” scenario was already outdated and the real outcome would be between “moderate” and “Serious” scenario.

Source: RES-EIA