The combined European currency area may experience a contraction over two successive twin years, according to Luis de Jendos, vice president of the European Central Bank.
According to Gwindos’ words to the Lynic newspaper Verslo Zenius, “I think we are facing a very tough combination of sluggish economic development, including the potential for technical recession, and excessive inflation.”
This unfavourable possibility, which was taken into consideration in September, is set to take precedence.
European Central Bank: There is a risk of a forty-day recession in the euro area.
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