The European Central Bank (ECB) intervenes again to take the economic pain of the break-up of the new corona virus is to use a softening tool. After a noodoverleg on a Wednesday night, around midnight, an additional opkoopprogramma of the bonds to be announced at a value of € 750 billion a year.
In a statement, stressed the head of the central bank, and Christine Lagarde, the ECB has “no limits” when it comes to the commitment to the euro. In addition, it will be the decision-makers at the ECB, according to her, do whatever is necessary, within the framework of their terms of office. If we look at Lagarde, alluding to the famous promise made by her predecessor, ex-president of the ECB, Mario Draghi. That said, in 2012, the “things to do” in order for the eurozone to rescue the then-crisis of the euro.
now, as The ECB came last week with a package of support measures. In the financial markets that may occur, however, with a little enthusiasm. A lot of analysts are saying it openly that she is a strong statement, as Draghi, who in 2012 had been done, by Lagarde, were missing.
To the end of the year.
The situation for the corona virus is in its last days, is also becoming more acute. The French Finance minister, Bruno Le Maire, did on Wednesday it had called on the ECB to take new measures to come in. “Of all the instruments available to the ECB, shall be used, and must be quickly and massively deployed,” he said. More and more economists believe that the European economy is in a recession, it will end up due to the financial crisis.
as for The emergency programme which has now been announced, will run until at least the end of this year. If the coronacrisis it’s still not over, the ECB will for the next year to continue the purchase of government bonds and debt securities of companies.
The central bank, then, just like in the last week before the interest rate alone, to make. The interest is in Europe for a very long time, are very low. Some of the other central banks, has decided in a recent case the interest rate is lower. So, surprise, the U.s. Federal Reserve on Sunday for the markets and using a solid interest rate cut. Wednesday’s cut in the central bank of Brazil and also the rate of interest.
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