DAVOS, Jan 19 — The eurozone economy will fare “a lot better” this year than initially feared, European Central Bank chief Christine Lagarde said Thursday, as hopes grow that countries can avoid a painful recession.
The rhetoric has shifted from talk of a recession in the 20-nation club to “a small contraction”, she said, with some major economies like Germany possibly dodging a contraction altogether.“So it’s not a brilliant year, but it is a lot better than what we had feared,” Lagarde said.
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