In the Eurozone, there has been “an unprecedented drop in the economy.” This April 16 to the video of the International monetary and financial Committee of the IMF , said the President of the European Central Bank, former managing Director of the IMF Christine Lagarde.
According to her, the economic data coming from the Eurozone countries, pointing to “a significant reduction in production, as well as on the rapidly deteriorating situation on the labour market”.
“Uncertainty is rising sharply and will remain high, which is extremely difficult to predict the likely extent and duration of the inevitable recession and subsequent recovery [of the economy],” – said Lagarde.
At the same time, she added, inflation in the Eurozone remains low, primarily due to a sharp decline in energy prices.
“Inflation is expected in the near future will continue to decline, while the consequences of coronavirus crisis in terms of inflation in the medium term remains highly uncertain,” – said in a statement the head of the European Central Bank.
Flash coronavirus infection COVID-19 began in late 2019 in Wuhan. In January – February 2020 first cases of infection with coronavirus have been confirmed outside of China, in late February – early March, the epidemic virus has spread to Europe.
In connection with the quarantine imposed because of the epidemic, in many countries the closure of many factories, which caused massive economic crisis. According to IMF estimates, is the most serious crisis since the great depression.