France's Le Maire: Q4 will show negative figure for French economy

Le Maire acknowledges that the recovery narrative has fallen flat

• Hopes for a strong rebound in the economy in 2021

This is the beginning of what feels like a series of constant denials and excuses by lawmakers and policymakers on the economic outlook in the euro area.

"Things will get better eventually". That was the same narrative from 2018 until the end of Draghi's era, which ended with a rate cut and reintroduction of QE.