The President of the European Central Bank Christine Lagarde has predicted a 15% contraction to the GDP of the eurozone's 19 countries between April and June as a direct consequence of the pandemic.
"The eurozone's economy is plunging rapidly," Lagarde declared.
The International Monetary Fund announced that during the first three months of 2020, the economy shrunk by 3,8%. The Global Bank President thinks that more serious threats will soon be posed to the global economy, and many European countries will face recession.