Eurozone approaching ECB’s worst-case scenario – Lagarde

Christine Lagarde unveils new lending facility

The eurozone is approaching the worst-case scenario forecast by the European Central Bank earlier in May, ECB president Christine Lagarde has warned.

“It’s very likely that the mild scenario is out of date… and it’s very likely it’s going to be somewhere in between the medium and the severe scenario,” said the president today. On May 1, ECB staff compiled three alternative scenarios measuring the impact Covid-19 is expected to have on the eurozone economy in 2020.

The mild one included a 5%

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