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ECB Sees Deeper Euro-Area Recession Than Rest of World

  • First signs of euro-area growth could emerge in third quarter
  • Sovereign debt levels in 19-nation region are sustainable
A pedestrian walks past a closed bars and restaurants in Madrid.

A pedestrian walks past a closed bars and restaurants in Madrid.

Photographer: Angel Navarrete/Bloomberg
Updated on

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Europe is likely to experience a more severe recession than the rest of the world and might not show proper signs of recovery until next year, according to European Central Bank Vice President Luis de Guindos.