Lagarde Tells EU Leaders GDP May Fall up to 15% on Coronavirus

Lagarde Tells EU Leaders GDP May Fall up to 15% on Coronavirus

© Bloomberg. Christine Lagarde Photographer: Alex Kraus/Bloomberg

(Bloomberg) —

European Central Bank President Christine Lagarde told the EU’s leaders that the bloc’s gross domestic product could fall by as much as 15% and that they’ve done too little, too late, according to two people familiar with the remarks.

Lagarde spoke during a video conference meeting of the 27 European Union leaders, who are discussing how to mitigate the economic fallout of the global pandemic. The people asked not to be identified because the summit is private.

©2020 Bloomberg L.P.

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