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Lagarde warns EU leaders agreed to a dramatic economic contraction

president of the ECB, Christine Lagarde, European heads of government on Friday said that their economies are in a "dramatic contraction" are used by the coro

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Lagarde warns EU leaders agreed to a dramatic economic contraction

president of the ECB, Christine Lagarde, European heads of government on Friday said that their economies are in a "dramatic contraction" are used by the coronacrisis, say experts. Lagarde made the statement during a video conference, where, among other things, plans for the Eu long-term budget, and the coronaherstelfonds will be discussed.

At the European council, which is a type of video connection will be held for the first time, European leaders discussed the proposal from the European Commission for a wider, long-term budget, and herstelfonds of the € 750 billion a year.

as for The measures that are needed to get the European economy out of the doldrums, to attract represents Lagarde. "The European economy is experiencing a dramatic contraction," said Lagarde. They expect that the economies of the euro area this year, due to the coronacrisis with a small 9 per cent of this section. It provides "a sharp decrease from 13 per cent in the second quarter of the year.

The president of the ECB, insists, therefore, that the government soon reached an agreement to come to, so as to stimulate the economy and the financial markets are calm. A quick agreement would be that the financial markets know that the EU is back," said Lagarde.

The hope is the president of the ECB, is unlikely to be met. The EU is in fact the bone is divided about the recovery. The netherlands has, on several occasions, in a meeting with Austria, Denmark, and Sweden, let me know, no big long-term budget and a less detailed herstelfonds of it.

As the Netherlands, like the hands on the purse strings, the states of the Baltic and Eastern European countries are worried that there will be a lot of money is going to countries such as Spain and Italy, while, on the contrary, less and less money to existing pots. The non-eu countries the money from the herstelfonds more equally distributed across Europe.

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