May 13, 2020 / 4:15 PM / 16 days ago

ECB's de Guindos says euro zone economy has already bottomed out

FILE PHOTO: European Central Bank (ECB) Vice-President Luis de Guindos attends an European Union finance ministers meeting in Brussels, Belgium January 21, 2020. REUTERS/Johanna Geron/File Photo

MADRID (Reuters) - The euro zone has already left the worst behind in terms of the economic impact from the current coronavirus pandemic although it will take the bloc two years to fully recover, European Central Bank Vice President Luis de Guindos said on Wednesday.

“In 2021, though there is still a high level of uncertainty, we could reach a growth rate of around 6 % in the euro zone,” De Guindos said.

The euro zone economy is facing a deep recession amid the coronavirus pandemic and greater cooperation is needed in fiscal policy to support the recovery, he said.

Reporting By Jesús Aguado and Emma Pinedo; editing by Andrei Khalip

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