The economy of the euro zone will not fall into a recession although it is growi...
Executive Board member of the European Central Bank Philip Lane attends the Fortune Global Forum in Paris, France, November 18, 2019. REUTERS/Gonzalo Fuentes
ROME - The economy of the euro zone will not fall into a recession although it is growing less than expected and there will be a recovery in the next year or two, the European Central Bank’s chief economist Philip Lane said in an interview on Wednesday. “The economy is growing less quickly than what we hoped. The dynamic is disappointing but not negative. We expect a recovery in the next year or two,” Lane told Italian daily la Repubblica.He added that euro zone countries should take advantage of the current low interest rates to reduce their debt piles rather than “waste the additional resources for new expenses or cuts to taxes”.Our Standards:
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