Economics

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.
Photographer: Angel Navarrete/Bloomberg

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By Oliver Sachgau and Piotr Skolimowski

April 12, 2020 at 7:52 AM UTC

Updated on

April 12, 2020 at 10:56 AM UTC

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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.