Euro zone economy suffering even as infections ease – ECB’s Lagarde

FRANKFURT (Reuters) – A second wave of coronavirus cases may be slowing down in Europe but the economy is stil bearing the brunt of the containment measures taken to address it, European Central Bank President Christine Lagarde said on Tuesday.

“The second wave is underway and by the way in Europe (it) is beginning to slow down and reduce in intensity because of the new containment measures that have been taken but which indeed are affecting the economy as we speak,” Lagarde said.

“All the the latest deveopments that we’re seeing are showing the economy is still suffering.”