ECB is ready to provide further support for the Eurozone
The European Central Bank (ECB) may, if necessary, may take further measures to help the eurozone through the corona crisis. That said several ECB policy makers separately.
The ECB has already launched an unprecedented support package for the European economy, including a commitment to spend more than € 1 trillion in public and private debt this year. But despite that monetary boost, tensions in the markets are mounting. Policy makers also expect inflation to remain below the desired level of 2 percent for the time being.
“We have already done a tremendous amount”, see French bank governor Francois Villeroy to French newspaper Journal Du Dimanche.
“If it is necessary to do more within our mandate to safeguard price stability, we will not fail to do so . ” According to the Frenchman, no one saw the crisis coming. “The crisis is completely unprecedented in its form and worse than previous crises.”
His Spanish colleague Luis de Guindos, Vice-President of the ECB, told Portuguese weekly Expresso that the central bank is ready to respond to further developments and tensions within the markets.