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The post-coronavirus pandemic recovery in Eurozone is likely to get somewhat delayed, although it could gather pace from mid-2021, the European Central Bank (ECB) President Christine Lagarde said in an interview with Le Journal du Dimanche.

Key comments

“We expect the upswing to gather pace around the middle of the year, even if the uncertainties persist.”

“Let’s be clear: we will not see a return to pre-pandemic levels of economic activity before mid-2022.”

“The plan needs to be ratified in time for the European Commission to borrow as planned next June and to then distribute the funds.”

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