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9/21, 2:39 PM (Source: TeleTrader)
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ECB's Lagarde: Recovery still uncertain, uneven

European Central Bank (ECB) President Christine Lagarde stressed on Monday the recovery from the "largest economic shock since the Second World War" remains "uncertain, as well as uneven and incomplete" and dependant on the "future evolution of the [coronavirus] pandemic and the success of containment policies."

"By implementing the right set of national and European policies, we will achieve more together than we can alone. [...] At European level, this should be complemented by accelerating progress towards the Digital Single Market to help deliver economies of scale for digital firms, while addressing key concerns around cybersecurity and data protection," she said.

"Policymakers should thus create the necessary conditions for the financial sector to do what it does best: allocate capital where it is most needed. [...] In other words, we need to finally complete the banking union and create a genuine capital markets union," Lagarde concluded.

Breaking the News / JR