ECB's Lagarde says Europe's pandemic slowdown probably won't be mild

European Central Bank President Christine Lagarde said the eurozone economy is likely to contract along the lines previously outlined in the bank's medium to severe scenarios, ruling out the "mild" possibility. The severe outlook is for a 12% GDP decline and the medium scenario is for a 8% drop, while the mild was for a 5% drop. Lagarde was holding a question and answer session in live webcast by the central bank.

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