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ECB’s Lagarde tells EU leaders: coronavirus can cut 15% of output: source

BRUSSELS (Reuters) – European Central Bank Governor Christine Lagarde told EU leaders on Thursday that the coronavirus pandemic could cut up to 15% of their economic output, a diplomatic source said.

Asked about Lagarde comments on Thursday afternoon to a videconference of the 27 national EU leaders discussing economic recovery from the pandemic, the source said she presented “a bleak outlook: a downturn in the range of 5-15%.”

(Reporting by Gabriela Baczynska)