ECB Chief Says Recovery To Be Transformational

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The recovery from the coronavirus crisis is set to be incomplete and transformational, European Central Bank President Christine Lagarde said on Friday.

At an online event, she said the recovery will be restrained.

“We probably have passed the lowest point, and I say that with some trepidation,” Lagarde said.

She observed that the hardest hit industries, namely airlines, hospitality and entertainment will emerge from the current situation in a different shape.

“We need to be extremely attentive to those that are most vulnerable,” said Lagarde.

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