Europe needs more investment for recovery – Villeroy
Bank of France Governor Francois Villeroy de Galhau (pictured) commented on Wednesday the fact that Eurogroup failed to reach a consensus on the bloc’s economic response to the coronavirus crisis, saying that “there is progress in EU talks” but that the further action is necessary. He also added Europe needs more investment to help the recovery.
Earlier today, the Bank of France announced that, according to its estimations, the national economy shrank 6% in the first quarter, compared to the previous trimester.
The 6% downturn in the French economy is the largest ever recorded.
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