ECB President Christine Lagarde said today “we probably are past the lowest point and I say that with some trepidation because of course there could be a severe second wave” of coronavirus infections. Also, the recovery will be “restrained” and “incomplete”.

“The airline industries, the hospitality industries, the entertainment industries are going to come out of that recovery process in a different shape, and some of them will probably be hurt irremediably,” She added. And trade is unlikely to return to pre-crisis levels.

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