ECB President Christine Lagarde at the European Parliament in Strasbourg, France, Tuesday Feb. 11, 2020. ECB President Christine Lagarde told European Union ministers that she expects the eurozone to diminish by 15% as a consequence of the coronavirus outbreak, Bloomberg reported.
Initially in April, the IMF predicted that the eurozone area would contract by 7.5%, before it revives to a projected growth level of 4.7% in 2021.
Unfortunately, by the time a vaccine is found, the damage will be between 30% to 40%. Hopefully countries & companies have learned the importance of preparation for the next crisis. Viruses do not discriminate & walls won't stop them. Spending money wisely is a must!
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