ECB Boss Lagarde: Eurozone Economy is Still on Crutches

“The eurozone economy is still running on crutches.” That said, Christine Lagarde, president of the European Central Bank (ECB), at the Reuters news agency.

 

According to the French, the economy relies on fiscal stimulus on the one hand and monetary stimulus on the other.

As long as the economy has not recovered sufficiently, it is impossible to remove these support measures.

“Compare it to a patient coming out of a deep crisis but still standing on two crutches,” said Lagarde.

“You don’t want to remove either crutch, fiscal or monetary until the patient can really walk well. And to do that, support is needed well into the recovery.”

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