EU governments and ECB have more to do to overcome crisis, Lagarde says

Informal Meeting of Ministers for Economics and Financial Affairs in Berlin
European Central Bank (ECB) President Christine Lagarde attends a news conference during the Informal Meeting of Ministers for Economics and Financial Affairs in Berlin, Germany, September 11, 2020. REUTERS/Hannibal Hanschke/Pool

September 11, 2020

FRANKFURT (Reuters) – Europe’s recovery from a deep recession is incomplete and uneven so there is no room for complacency by governments or the European Central Bank, ECB President Christine Lagarde said on Friday.

“This current moment is coined by this uneven, incomplete and asymmetric recovery that we have observed in the third quarter after a very catastrophic second quarter,” Lagarde told a press conference after meeting European Union finance officials.

“No complacency! Our accommodative monetary policy needs the support of fiscal policy, and none of us can afford complacency in the present time,” she added.

(Reporting by Balazs Koranyi; Editing by Kevin Liffey)